The world's small and medium business owners have contributed US$8.3 trillion to the global economy by working beyond the standard industry hours for their businesses, according to a new global survey by Sage.

According to the survey, nearly half (46 per cent) of all global business owners work over 40 hours a week. German entrepreneurs are said to be working particularly hard, with 57 per cent working more than 40 hours every week.

Australian business owners are also reported to be achieving a better work-life balance, with 31 per cent, saying they are working more than 40 hours a week.

The survey by sage, the market leader for integrated accounting, payroll and payment systems, highlights the true sacrifices made by entrepreneurs around the world.

Over a third (36 per cent) of those surveyed say they have sacrificed family time for their businesses. That figure was particularly high in South Africa, where 44 per cent of business owners have chosen their work over their family.

Globally, 44 per cent of business owners say that their dedication to their enterprise has affected their relationships.

The survey highlights the human sacrifice made by small and medium business owners to power the global economy. Over half of all business owners (66 per cent) say the extra hours are worth it. More than a third (41 per cent) are driven by the love of what they do, whilst 38 per cent say they are motivated by the sense of achievement.