Four in 10 business leaders have taken on other roles within the workplace after letting staff go because of the cost-of-living crisis.

A study of 500 small business owners and decision makers estimate they have to wear five different ‘hats’ every single day – including running finances, sales and marketing.

Others have been involved in admin (32%), advertising (31%) and HR (27%).

But 61% admitted they still get confused about how to do things on a day-to-day basis.

Areas decision makers have struggled with included cleaning (15%), operations (14%) and events (14%).

It also emerged the most common concerns among management included managing business expenses (26%), staff pensions (25%) and ensuring wages are fair (23%).

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