Stress Levels Soar Among Small Business Owners
Posted 7th March 2019 in News For Businesses
Small business owners face increasing levels of stress thanks to heavy workloads and Brexit uncertainty, according to a new study.
A study of small business owners, conducted by Xero, discovered that eight in ten small business owners report experiencing stress in the past six months, with just under half saying they felt more stressed than usual, and 17% saying they were “highly stressed”.
One in ten respondents said that the stress of running their business had had a negative impact on their mental health.
According to the study, the main causes of stress were managing staff and administration, feeling personally responsible for the success of their company, and filing taxes.
One in ten respondents felt vulnerable to economic conditions, with one in four saying they felt stress over compliance.
Common results to the levels of stress reported were forgoing social events, eating junk food, and not exercising.
However, despite the high levels of stress suffered by respondents, the survey also asked small business owners what they most enjoyed about owning and managing their own business. The most common answers included the joy of being your own boss, and improved work/life balance.