68% of UK small business owners suffer with poor mental health

57% of small business owners feel that their business is at risk of closure in the coming year because of current economic instability. 

Towergate Insurance surveyed 750 Small Business owners from across the UK to explore the threats they are facing in the wake of the cost-of-living crisis and the impact these are having on their business and their mental health.

When asked how often they suffer with poor mental health, 68% of small business owners suffer always, very frequently or occasionally:

  1. I always suffer with poor mental health: 9.87%
  2. I very frequently suffer with poor mental health: 28.40%
  3. I occasionally suffer with poor mental health: 29.60%
  4. I rarely suffer with poor mental health: 19.87%
  5. I very rarely suffer poor mental health: 9.87%
  6. I never suffer with poor mental health: 2.40%

What sectors do SMB owners suffer most with poor mental health?

 

Rank

Sector Percentage of SMB Owners Suffering with Poor Mental Health
1 Human Resource 82.05%
2 Finance 73.45%
3 Manufacturing & Utilities 73.40%
4 Legal 73.18%
5 Arts & Culture 69.69%

 

The survey reveals that small business owners in Human Resources suffer most with poor mental health with 82.05% stating they always, very frequently or occasionally suffer with poor mental health. Small business owners in Finance (73.45%), Manufacturing & Utilities (73.40%) and Legal (73.18%)  are also among those suffering most with poor mental health.

What are SMB owners deprioritising to maintain their business?

When asked what they deprioritise or put on hold to maintain their small business, the following ranked as the factors small business owners are deprioritising the most:

  1. Mental Wellbeing: 30.80%
  2. Hobbies: 30.00%
  3. Physical Wellbeing: 28.00%
  4. Family: 27.47%
  5. Friends: 26.27%

Susan Leigh, a UK based stress management expert, provides insight into how small business owners can protect their mental health:

Poor mental health can impact the running of a business because a certain level of resilience and optimism is required for successful management. There is often rejection, stress, a myriad of challenges to contend with as a business owner and a good mental state can ensure you persevere, keep going and see beyond the challenges with an upbeat attitude.

Susan Leigh, a UK based stress management expert

Susan provided the following points to help protect workers mental health. She encourages us to tune in to our stress levels and focus on implementing the following stress relieving tactics:

  1. Taking regular breaks often results in a better quality of work than powering on through.
  2. Treat sleep as important. Commit to winding down 2 hours before bed. No last-minute checking online!
  3. Pay good attention to nutrition, hydration and exercise.
  4. Ensure there’s time for family, friends and fun!
  5. Learn to effectively delegate to staff who are trained and motivated to do well.
  6. Have an ‘open-door’ policy when avoids an ‘us and them’ mindset at work.”
Joanne Swann, Content Manager, WorkWellPro
Editor at Workplace Wellbeing Professional | Website |  + posts

Joanne is the editor for Workplace Wellbeing Professional and has a keen interest in promoting the safety and wellbeing of the global workforce. After earning a bachelor's degree in English literature and media studies, she taught English in China and Vietnam for two years. Before joining Work Well Pro, Joanne worked as a marketing coordinator for luxury property, where her responsibilities included blog writing, photography, and video creation.

Share

Latest News

Latest Analysis

Related Articles

Part-Time Staff Say Hybrid Work Is Vital to Staying in Jobs

New research shows commuting costs are driving part-time staff to consider quitting, with flexible and hybrid work cited as essential.

UK Pay Ranks High Globally But Wellbeing Risks Persist for Low Earners: Study

Many low-paid workers in the UK struggle to meet basic living standards, despite the country’s high global ranking for minimum wage value.

Suicide Support Gap Exposed as Staff ‘Lack Confidence to Act’

Most employees care deeply about colleagues' wellbeing but remain unsure how to respond when someone may be in crisis, research shows.

Fewer Employees ‘Want Shorter Working Weeks Than Before the Pandemic’

New findings reveal shifting attitudes toward reduced schedules, with many employees prioritising income stability over additional time off.