Health and wellbeing
It can be tough starting and growing a small business. Often the hours are long, cash can be tight and you have to constantly overcome obstacles.
The results of our Payment Times and Practices Inquiry found that the stress of late payments, cash flow and debt affected the mental wellbeing of over three quarters of the small business owners surveyed. A staggering 93 per cent reported personal and family hardship as a result of late payment.
The state of your mental health is critical to the success of the business. Likewise, if you employ people their work environment can influence their mental wellbeing. Being aware of your own mental health needs can have a positive impact on business sustainability. There are many ways to help maintain a mentally healthy outlook.
If you work alone it’s important to care for your own mental health. Alternatively, some small and family run enterprises may be faced with the need to support and employee who is experiencing mental health challenges. It’s important to be able to recognise the signs for both yourself or an employee, feel confident supporting the employee and know what your legal obligations are.
Above all, if you are able to take a proactive approach to caring for your own and your employee’s mental health you’ll be making a significant investment in the success of your small or family owned business.