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10 December 2019

My Business Health a lifeline to small business owners under strain

My Business Health, a web portal designed to provide holistic support to small business owners, went live today.  

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell and Minister for Employment, Skills, Small and Family Business, Senator the Hon Michaelia Cash officially launched My Business Health at Canberra-based small business, Altina Drinks.

“My Business Health is a free web portal accessed via the ASBFEO website that offers practical information and resources about those day-to-day issues that keep small business owners awake at night,” Ms Carnell said.

“Many small and family business owners may not be aware that their everyday worries – be it cash flow, staff related concerns or paying suppliers – can actually cause high levels of psychological distress.

“That can have a serious impact on both mental and physical health.

“My Business Health provides useful tips to help small business owners with some of the issues that go hand-in-hand with running a small or family business.

“The web portal also provides excellent resources to help support small business owners experiencing mental health issues as a result of their concerns about their business.    

“My Business Health has been developed in consultation with EveryMind, Beyond Blue and small businesses.

“Mental health is a serious issue for Australia’s small business community with the Productivity Commission’s draft report into mental health finding the cost of absenteeism and presenteeism to the sector is over $17 billion per year.

“A recently released MYOB report revealed 56% of small business owners feel that running their business has directly brought on anxiety and depression.

“48% of those small business owners reported their anxiety was largely caused by financial and cash flow concerns.  

“We know that it makes good business sense to invest in workplace wellbeing, with every dollar spent on creating a mentally healthy workplace providing solid return on investment.”