Survey highlights mental health struggles of business owners but support available, say Shropshire chiefs

And the past three or four years have certainly hit business owners hard, as they have been hit by a tidal wave of mounting issues.

Results of a survey, revealed this week, issued a stark message on the ripple effects the Covid-19 pandemic, Brexit and a cost-of-living crisis have had on the mental health of business owners.

Towergate Insurance surveyed 750 small business owners from across the UK to explore the threats they’re facing in the wake of the cost of living crisis and the impact these are having on their businesses.

And the survey revealed that 68 per cent of small business owners have struggled with poor mental health, at least occasionally.

Nearly a third of those surveyed said they frequently struggle, while one in 10 said they are constantly dealing with poor mental health.

Results also suggested small business owners in human resources suffer the most with their mental health, with 82 per cent saying they’ve struggled at least occasionally.

Finance (73 per cent), Manufacturing and Utilities (73 per cent) and Legal (73 per cent) were also among the sectors with business owners suffering most with poor mental health.

The positive is that support is out there.

Shropshire Chamber of Commerce, for example, has created a Mental Health Charter to recognise employers going the extra mile to look after the welfare of staff.

It is part of a campaign to keep the mental health debate at the very top of the agenda as companies continue to adapt to the fallout from Covid.

Every company which signs up to the free charter receives a certificate of recognition.

In return, all they have to do is pledge to adopt three key principles of engaging with and embracing the mental health agenda, reducing the stigma surrounding mental health in the workplace and identifying and providing sources of information and support regarding mental health.

Richard Sheehan, Shropshire Chamber of Commerce’s chief executive, said: “Looking after the mental health of staff is more crucial than ever. Some people had virtually all social contact removed during lockdown, and may have been filled with trepidation at the thought of going back into the office, or nervous about jumping into the world of networking again.

“Shropshire Chamber’s cross-sector connectivity allows us to play a serious and constructive part in this debate – and we’re determined to keep mental health right at the top of the agenda.

"Everyone in the workplace has a right to an environment which promotes good mental health and wellbeing. And from an employer’s point of view, it’s a win-win situation, because a happy employee is a more loyal and productive employee. We would urge every single employer in the county to sign up to this charter to help achieve these goals.”

The charter has been developed in conjunction with Merulae, the bespoke training and counselling services, based in Shrewsbury, and its founder and counsellor Wendy Brook said: “Signing the charter is the beginning of a vital journey which has the potential to reduce sickness, absence and presenteeism, and reduce the hefty costs to the business and the person.”

Mr Sheehan added: “We are not expecting Shropshire employers to suddenly become mental health professionals; often, it’s simply a case of creating an environment in which staff feel confident and comfortable enough to talk through their issues, with suitable training and support available.”

Responding to the recent survey, Mike Goodall, development officer for the Shropshire, Hereford and Worcester area for the Federation of Small Businesses, said their own research had shown 24 per cent of small business owners say they have a mental health condition.

"Owning and running a business can be hugely rewarding," he said. "However, it can also be a lonely place, with the ultimate responsibility for the business and its employees resting primarily on the shoulders of the small business owner.

"On top of that, they have had to content with the effects of our exit from the EU, the pandemic and global conflict all in the space of three years."

Mr Goodall said, FSB figures had shown more than a third (34 per cent) said that their mental health declined in general over the course of the pandemic.

And research had shown that almost half (48%) of people in the workforce say they have experienced a mental health problem in their current job.

"Business owners have a crucial role to play in starting the conversation about mental health in our workplace," Mr Goodall said.

"They need to lead the way in both destigmatising mental health in the workplace and acting to help themselves and members of their team when they are struggling.

"Help is available from many sources including confiding in a friend, family member, colleague or your GP.

"And one of the services that FSB provides to its members, is FSB Care.

"This offers confidential, long-term, one to one support from registered health professionals, including mental health nurses who can be invaluable in exploring emotional issues, developing coping strategies and self-care.

"We have seen an increasing number of members using and benefitting from these services in recent times.

"This is partly a reflection of the huge stresses faced by small business owners right now but also a welcome indication that more of those who need support are seeking it out and reaping the benefits of doing so."

You can find out more about support at https://www.fsb.org.uk/care.html

Other chambers are also doing their bit. Emily Stubbs, senior policy and projects manager at Greater Birmingham Chambers of Commerce, said: “Recent economic shocks have exacerbated pressures on small businesses.

“Firms have faced lockdowns, mounting price pressures – not least from skyrocketing energy bills - and difficulties getting staff. Navigating these unprecedented circumstances has challenged the personal resilience of many, particularly small business leaders.

“As part of our annual Growth Through People campaign, we’re delivering a free, expert-led workshop on March 21 for leaders and people managers looking to boost their wellbeing and harness personal resilience. This session will provide support and practical tools for delegates, as they continue to traverse this difficult trading landscape.”

It seems, very much the key is for businesses to open up the mental health debate, and provide a structure which promotes awareness, and access to training and support.