Why are business days important?
How long is a business day?
You’ve probably heard of 9-5 a.m. jobs, a day job, or a work day. Even a layman may come across words like this when placing an order online or making a business transaction at the bank or office.
Various countries, periods, industries, and organizations have set their standard for what is considered a business day. Some of them were influenced by religion requiring a free day for worship. Earlier eras had recorded rest days, which is similar to what we call weekends in those times.
In the early 1900s, some American factories were already giving their workers a five-day workweek. Henry Ford began giving his workers Saturdays and Sundays off after the October Revolution which blamed the elites for presenting unfavorable conditions to their workers.
In 1940 however, the Fair Labor Standards Act saw the adoption of a two-day weekend and 5 working days with the enactment of a 40-hour work week. This has since remained the norm in the United States and many parts of the world today.
What is a business day?
A business day, also known as a business day, is any day in a working week used to describe when regular business activities take place. These are generally calendar days Monday through Friday, 9:5 a.m. to 5:00 a.m. local time, excluding holidays and weekends. Any day that the financial markets are open for trading is considered a business day in the securities industry.
There are generally 21 business days in a 31-day calendar month and 18 business days in a 29-day calendar month. However, some countries apply a 4-hour working week, which further reduces the length of working days available in a month. Some working days may also be 8 a.m. to 4 a.m. or 8.30 a.m. to 4.30 p.m. to 30 p.m., usually with a one-hour break or two 4.30-minute breaks, but others may be longer or shorter.
3 types of working days
You may be so used to the usual 9 am to 5 am workday that you find it hard to believe that there are so many different types of workdays. Well, there are indeed many types of working days and we will discuss 3 of them below. Keep reading.
Continuous working day
Also known as a full-time workday, this type of workday involves only a brief break for break and typically lasts a full eight hours. Most countries practice this type of working day.
Split Working Days
This type of working day involves much longer breaks which may require workers to go home and come back later. Breaks can last up to 3 or 4 hours, employees may be required to work 8 am to 12 pm and 4 am to 8 am with a 4-hour break in between.
Shift work
This is common in industries that do not accept breaks, such as security offices and hospitals. Shift jobs are usually divided into 3 groups of 8 hours each. These are morning, afternoon, and night. Workers will for the most part alternate their shifts, except where there are specific agreements to work permanently in one change.
Despite the variations in the types of working days mentioned above, it is important to note that only one working day can exist in 24 hours. Therefore, a 3-section shift day does not equal 3 working days or a split day. equivalent to half a working day.
Why are business days important?
They are essential for work
Working days are the days that employees work in most companies and organizations. Therefore, working days are important as they help create a work-life balance for employees. While employees commute to work during working days, they can have enough rest time on weekend days.
Communicate with customers and invoice
In finance, business days are very important as they form the basis of business day conventions which extend the date of any period of interest to one business day if the date on which the interest falls is a weekend or a day holiday.
Working days are also the best time to communicate with customers to allow customers to enjoy their free time on weekends and holidays with family and friends.
For tax purposes
Taxes in the United States are usually completed by specific due dates which always fall on a business day.
Schools, governments, and various industries use business days to create a schedule or schedule for various activities. For example, schools will only schedule exams and classes on working days.
Notice how Saturdays and Sundays appear with green highlights to indicate free days in this example list.
For courier services
Courier services are popular to use on business days. They use it to determine how long it will take before a package is sent or arrives. Most courier companies operate on business days only. Therefore, sending a parcel usually comes with details of how many working days it will take for the parcels to arrive and be delivered.
Duration of the different working days
One business day
The duration of a working day corresponds to the working hours that exist during a working day during a working week. This can be Monday to Friday, Monday to Saturday, Monday to Thursday, or Sunday to Thursday depending on the region. In addition, depending on the region, working hours may vary.
A working day would mean the following day if there are no weekends or holidays in between. For example, on a Monday, a working day from Monday will be Tuesday if there are no holidays in between. Similarly, a working day from Friday will be the following Monday after weekends.
Two working days
To determine when two business days will be, count two days after a specific day. For example, two working days after a Monday will be the following Wednesday. Days that fall on a weekend or public holiday should not be counted.
Three working days
To calculate 3 working days, count 3 consecutive days after a specific day. For example, 3 business days after a Friday will be the following Wednesday in a country with a Saturday and Sunday weekend.
Three to five working days
3 to 5 business days would mean the days between the third consecutive business day and the fifth consecutive business day following the specific day. For example, 3-5 business days from a Wednesday will fall on Monday, Tuesday, and Wednesday of the following week.
Seven to ten working days.
To determine when seven to ten business days will be, count consecutive days following a specific day minus weekends and holidays. All days between the 7th consecutive day and the 10th consecutive day are the 7-10 working days.
For example, 7 to 10 working days after a Monday will correspond to the Wednesday of the following week until the Monday of the week above.
Conclusion
Working days have been around for a very long time, but the world has seen a more globalized workforce since the introduction of the internet. Businesses now operate without having to distinguish working days from weekends, while some operate 24/7.