Mental Health Should be a Priority for Entrepreneurs
Taking Care of Your Mental Health and Well-Being
Becoming an entrepreneur is a great career move and an incredible adventure. It comes with its ups and downs, but it is undoubtedly rewarding.
Small businesses employ more than 54 million people in the United States. So it doesn’t come as a surprise that the well-being and overall health of business owners are critically important.
With so many things to care for, it is not uncommon for business owners to feel overwhelmed at times. Did you know that 62% of business owners feel depressed at least once a week? The Business Development Bank of Canada (BDC) and the Canadian Mental Health Association (CMHA) recently reported these findings. Although the study was conducted in Canada, it can be applied to the US.
According to that study, 62% of business owners have feelings of depression once a week, and another 46% experience mental fatigue or low mood. This can impair their ability to work.
What Is Affecting Business Owners’ Mental Health?
From the sample, in the past year, 28% of business owners mentioned they were diagnosed with or had experienced a mental health condition, such as mood or anxiety disorders. In addition to that, they also experienced feelings of inadequacy, uncertainty, depression, among others.
One of the essential things when experiencing that type of health issue is to seek help. Recognizing that you, as a business owner, can be under a lot of stress is ok. Rather than seeing this as a sign of weakness, it should be seen as a sign of strength, as you are bravely doing what is best for you and your business.
On the practical side, some things can be done to mitigate this risk for yourself and your team members. Such as, promoting work-life balance in the workplace, developing or providing mental health support material, and creating a safe environment where your employees —and even yourself— can report their condition. Knowing they will be supported and that it won’t be held against them.
When you start your own business, you should always remember that taking care of yourself comes before taking care of your business. You have to be ok, to do the things that need to be done, taking your business to the next level.