Bad time management on the road is the cause of over one million lost working hours, according to a new survey.

The survey, from business-to-business services group Bibby Financial services, revealed that 29% of Britain’s small to medium-sized businesses admitted to arriving over an hour late to an important business meeting, blaming busy schedules and a lack of time for forward planning.  Meanwhile, 15% of workers are getting lost because of incorrect directions and 42% consume food and drink on the move in order to save time.

One in five business owners and managers in the Midlands admit losing their way after relying on satellite navigation systems, while 26% of workers in the South have incurred a speeding fine when travelling for business.

David Robertson, global chief executive of Bibby Financial Services, said: “With the pressure on busy business owners and managers to juggle so many tasks in order to keep the business going, time can become a precious commodity.”