The Business Exchange Swindon & Wiltshire Edition 37: June/July 2018 | Page 6
BUSINESS NEWS
Three quarters of SME owners say that work
stress effects their mental wellbeing
A survey by top accounting firm Haines Watts has found more than 75% of
business owners across the South West struggle with their mental health.
The project found the conflicting pressures of
running a business and being part of a family
can often force SME owners to live a double
life in an often fruitless attempt to separate
business stresses from family or personal
wellbeing.
More than three quarters (79%) of those
questioned in the South West suffer a
negative impact on their mental health as a
result. The survey found:
• 64% of business owners in the South West
have never taken more than a week off
• 77% have a family reliant on the income
from the business
• 39% say they would struggle to reduce
the income they draw due to their family
financial commitments
• 55% feel no one truly understands the
pressure they’re under
• 36% feel there’s no-one they can talk to
about it.
According to research conducted among
500 UK SMEs the pressure relates to 2 key areas:
TIME - the day-to-day operations of the
business means the time needed to think
strategically and work “on” the business gets
pushed into personal time. Three quarters
(73%) of business owners in the South West
report working at the weekend and nearly
two thirds (63%) report working while on
holiday. Less than one in twenty (5%) are able
to work a 40 hour week or less.
MONEY - a third (34%) have put off
financial investments in their business because
of the need to draw a personal income.
In fact, 39% say that it would be difficult
to reduce the income they draw from the
business due to their financial commitments.
For most SME owners in the South West
the business bears the responsibility for
maintaining that family lifestyle as over three
quarters (77%) say their spouse either works
in the business or has no alternative income.
Mike Lloyd, Managing Partner at Haines
Watts said: “For many, personal success and
business success are deeply intertwined, but
they also conflict. It’s imperative business
owners’ long-term plans include future
business investment, and leave a buffer
between business income and family financial
commitments to help mitigate the stress of
ups and downs.
“The key is to not let pressures bubble over
into serious stress or mental health issues by
seeking support early. At present, only 4% of
those surveyed had deemed their struggles
severe enough to seek the help of a mental
health professional. That number will grow if
owners don’t recognise and respond to early
symptoms of stress.”
Mike Lloyd, Haines Watts
“Most business owners already feel motivated
and are willing to make certain sacrifices to
achieve their business aspirations. Given this,
a solid support network and an environment
that encourages open and honest
conversations could be all that’s needed to
ensure pressures and strains don’t become
anything more serious.”
[email protected]
01793 533838
For more info:
www.haineswatts-swindon.co.uk
ACHIEVING A WORK/LIFE BALANCE
Health and wellbeing at work has been
recognised as an important issue for
employers, employees and society as a whole.
1 in 4 of us will experience a mental health
issue and a demanding work culture is possibly
the most pressing challenge to the mental
health of our population. At any one time it is
estimated that one sixth of the working age
population is suffering depression and anxiety,
the most common symptoms of mental illness.
A key way to protect your mental health
against the potential detrimental effects of
work related stress is to ensure you have a
healthy work-life balance.
Employers need to be aware of where the
pressures lie in the workplace so that they can
take action and ensure that the expectations
and demands of work do not become too
much. Employees need to take responsibility
for their work life balance and many
employees neglect the things in their lives that
can make them resistant or more resilient to
mental health problems.
These are 5 steps that everyone can take
to improve their own personal wellbeing:
3) Take notice: Be aware of the world around
you. Savour the moment, whether you are
walking to work, eating lunch or spending
time with friends.
4) Keep learning: Try something new. Maybe
take up a hobby – learn to play a musical
instrument or how to cook your favourite
food.
1) Connect: Connect with the people
around you – family, friends, colleagues and
neighbours. 5) Give: Do something nice for a stranger
or friend. Volunteer your time or join a
community group. Seeing yourself and your
happiness linked to the wider community can
be very rewarding.
2) Be Active: Exercising makes you feel good.
Discover something that you enjoy that suits
your level of fitness and mobility. There is much evidence that shows that
people who have good levels of wellbeing
at work are more likely to be productive,
more creative and provide better customer
satisfaction – which is good for both employer
and employee.
2018/19 is Swindon’s Year of Mental
Health. Swindon Council want to
raise awareness of mental health and
encourage individuals, organisations and
communities to improve mental health
and wellbeing. Swindon Council is asking
businesses to get involved and let them
know what you are doing to improve
mental health and wellbeing in your
organisation.
Contact [email protected] to
find out more about the project and to
share your company initiatives.
Award w