Over a third of entrepreneurs would be tempted to return to working for someone else because of the benefit of paid sick leave, according to research.

A study by Olbas Powerflu found that self-employed workers lose out on £3.7bn worth of work by being sidelined by colds or flu, with every day lost costing an average of £500.

The majority (57%) of entrepreneurs said they couldn't afford to take time off work through colds and flu, with 34% saying they would head into work regardless so as not to let customers down.

An additional 22% of small business owners worried that taking a day off work due to a cold or flu would set a bad example to their staff.

"It is extremely hard for self-employed people to take time off work due to colds and flu without losing out," said Hilary Lynn, spokesperson for Olbas Powerflu. "If you don't work, you may not get paid, not to mention losing out on new business or having to turn down work.''