FIVE STEPS YOU CAN TAKE TO STRESS LESS AND LIVE MORE. If you are a small business owner/entrepreneur, ask yourself these three questions: - Am I prioritising my business success over my wellbeing? - Do I define myself and my self-worth through the success of my business? - Am I feeling isolated or overwhelmed in my business &/or life? Did you nod your head with a ‘yes' to one or more of these things? If you did, please know that you are not alone! It's Time to Shine a Light on the Hidden Cost of Small Business. At the end of 2017 the Whitepaper was released, revealing the hidden cost of running a small business. The paper found that people working in the small business sector may be more likely to be affected by poor mental health than the general population. GENERATIVE WOMAN | PAGE 22
Statistics show that 1 in 5 Australians will suffer with depression this year. With over 2.1 Million small businesses in Australia, there are a lot of Small Business Owners impacted by Depression and other mental health issues whilst managing a business. Further studies have been conducted including a study by Suncorp which indicated that "small business owners sacrifice their personal wellbeing in order to achieve success in their business."
This study of 500 small businesses shows more than two-thirds of small business operators have experienced personal challenges including fatigue, financial stress and relationship strain because of their business. (Reference) As a Psychotherapist, Small Business Owner and Coach who works with Fempreneurs and Mumpreneurs I am very familiar with the unique stressors and vulnerabilities that small business owners grapple with. However, there are also many strengths and advantages of being a small business owner. As I have embraced my more entrepreneurial side, I have noticed how much meaning and enjoyment I get from growing my bizz! Business Ownership is a complex beast though because a strength can also quickly become a vulnerability if it becomes unbalanced and out of our awareness: STRENGTHS Flexibility around hours and schedule
VULNERABILITIES Blurring of boundaries between work and home can lead to overworking and lack of rest. Feeling like you can’t take time off work when you are sick.
Meaningful work
Potential for business to become our whole identity.
Opportunity to connect with like- minded women in business
Potential for isolation, often working alone
Exciting, often no day is the same when you are a small business owner
Uncertainty about the future (particularly difficult for anyone who struggles with anxiety) but for some may be seen as a positive.
