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12 December 2019

My Business Health a lifeline to stressed small business owners

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 felt that running their business had directly brought on anxiety and depression. While 48% of those small business owners reported their anxiety was largely caused by financial and cash flow concerns.  

That’s why my office, in collaboration with small businesses, EveryMind, Beyond Blue and the Department of Employment, Skills, Small and Family Business have created My Business Health.

My Business Health is a web portal designed to provide holistic support to small business owners.  

It can be accessed for free via the ASBFEO website (www.asbfeo.gov.au) and offers practical information and resources about those day-to-day issues that keep small business owners awake at night.

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 their 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.   

Remember, 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.