Globally, business owners have been victim of over two years of COVID-19 pandemic stress. We’ve seen a high number of business owners thrust into making fast-paced business critical decisions in unprecedented circumstances. It was during the height of the pandemic that we conducted one of the first research studies into the mental health of UK business owners during COVID-19.
We were keen to identify if high levels of stress and isolation was detrimental to business owners’ own mental health.
The findings were striking.
54% of business owners had seen their mental health and wellbeing worsen due to:
- financial worries
- responsibility of staff
- work/life balance
- general unease.
As we emerge from the pandemic, it’s clear that there is still a lot of recovery to be done and we are keen to assess the aftermath. Our second survey aims to gauge if and how mental health is still affecting UK business owners, particularly whether it’s affected their attitude towards risk.
Time for part two
We’re therefore delighted to launch the second Business Owners’ Mental Health Survey! Helping us engage with regional and national businesses are the North East Chamber of Commerce and North East Times Magazine!
The second survey was aptly launched during Mental Health Awareness Week. This annual campaign created by the Mental Health Foundation aims to improve awareness of mental health issues. Their theme for this year is loneliness, which is certainly apt given that our 2020 research found that peer support was highly beneficial to business owners throughout the pandemic.
The 2020 research also aimed to discover what tools and support might be helpful for business owners, specifically to inform a practical and collaborative response to the findings. This then led to the launch of the online Mental Health Resource Hub.
What we’re looking at this time
Two years on, we’re now looking to find out to what level the pandemic has affected business owner’s mental health. Many industry bodies are warning that members are on the verge of a mass burnout. So it would seem the end to lockdowns and restrictions hasn’t put an end to business owner’s concerns and we are keen to delve into this.
We also looked at what kind of help does – and would – support them going forward. We’re sharing the findings with professional bodies and central government to ensure that business owners’ mental health is understood. We hope that it is used to inform future plans for action and support.
Natasha McDonough, Founder and Managing Director of MMC Research said,
“Like many other businesses when lockdown struck, we lost a significant amount of planned business literally overnight. My anxiety levels spiked at the same time. I initially thought that if I felt like this, surely many others did too. I wanted to know what kind of emotional and peer support business owners needed.
The 2020 findings were eye-opening. Two thirds of surveyed business owners said that concerns around cashflow and cancelled work caused them high levels of stress. As we rediscover the landscape post-pandemic, we’re keen to identify if the themes are still prevalent. To what extent are mental health concerns amongst business owners two years on?
This time, we’re especially curious whether the pandemic has made business owners more risk adverse. Or whether they’re more ready than ever to fire on all cylinders and take calculated risks.”
We are looking for business owners from across the UK who’ve been operating for at least two years to participate in the survey. With every survey completed we will make a donation to the charity, Mind.
The survey takes just a few minutes to complete and is live until Friday 3rd June 2022. If you’re a business owner, please help by taking part in the anonymised short survey by clicking here.