Entrepreneurs are working an average of an extra eight hours a week in a bid to counter the effects of the credit crunch, according to new research by entrepreneurial thinktank the Tenon Forum.

This average increase in working hours by company owners equates to working an extra day a week.

"In these uncertain times, bosses and their staff need to work together to ensure their businesses are in the best possible position to have a successful year in 2009," said Carl Jackson from the Tenon Forum.