The Business Exchange Swindon & Wiltshire Edition 37: June/July 2018 | Page 6

BUSINESS NEWS Three quarters of SME owners say that work stress effects their mental wellbeing A survey by top accounting firm Haines Watts has found more than 75% of business owners across the South West struggle with their mental health. The project found the conflicting pressures of running a business and being part of a family can often force SME owners to live a double life in an often fruitless attempt to separate business stresses from family or personal wellbeing. More than three quarters (79%) of those questioned in the South West suffer a negative impact on their mental health as a result. The survey found: • 64% of business owners in the South West have never taken more than a week off • 77% have a family reliant on the income from the business • 39% say they would struggle to reduce the income they draw due to their family financial commitments • 55% feel no one truly understands the pressure they’re under • 36% feel there’s no-one they can talk to about it. According to research conducted among 500 UK SMEs the pressure relates to 2 key areas: TIME - the day-to-day operations of the business means the time needed to think strategically and work “on” the business gets pushed into personal time. Three quarters (73%) of business owners in the South West report working at the weekend and nearly two thirds (63%) report working while on holiday. Less than one in twenty (5%) are able to work a 40 hour week or less. MONEY - a third (34%) have put off financial investments in their business because of the need to draw a personal income. In fact, 39% say that it would be difficult to reduce the income they draw from the business due to their financial commitments. For most SME owners in the South West the business bears the responsibility for maintaining that family lifestyle as over three quarters (77%) say their spouse either works in the business or has no alternative income. Mike Lloyd, Managing Partner at Haines Watts said: “For many, personal success and business success are deeply intertwined, but they also conflict. It’s imperative business owners’ long-term plans include future business investment, and leave a buffer between business income and family financial commitments to help mitigate the stress of ups and downs. “The key is to not let pressures bubble over into serious stress or mental health issues by seeking support early. At present, only 4% of those surveyed had deemed their struggles severe enough to seek the help of a mental health professional. That number will grow if owners don’t recognise and respond to early symptoms of stress.” Mike Lloyd, Haines Watts “Most business owners already feel motivated and are willing to make certain sacrifices to achieve their business aspirations. Given this, a solid support network and an environment that encourages open and honest conversations could be all that’s needed to ensure pressures and strains don’t become anything more serious.” [email protected] 01793 533838 For more info: www.haineswatts-swindon.co.uk ACHIEVING A WORK/LIFE BALANCE Health and wellbeing at work has been recognised as an important issue for employers, employees and society as a whole. 1 in 4 of us will experience a mental health issue and a demanding work culture is possibly the most pressing challenge to the mental health of our population. At any one time it is estimated that one sixth of the working age population is suffering depression and anxiety, the most common symptoms of mental illness. A key way to protect your mental health against the potential detrimental effects of work related stress is to ensure you have a healthy work-life balance. Employers need to be aware of where the pressures lie in the workplace so that they can take action and ensure that the expectations and demands of work do not become too much. Employees need to take responsibility for their work life balance and many employees neglect the things in their lives that can make them resistant or more resilient to mental health problems. These are 5 steps that everyone can take to improve their own personal wellbeing: 3) Take notice: Be aware of the world around you. Savour the moment, whether you are walking to work, eating lunch or spending time with friends. 4) Keep learning: Try something new. Maybe take up a hobby – learn to play a musical instrument or how to cook your favourite food. 1) Connect: Connect with the people around you – family, friends, colleagues and neighbours. 5) Give: Do something nice for a stranger or friend. Volunteer your time or join a community group. Seeing yourself and your happiness linked to the wider community can be very rewarding. 2) Be Active: Exercising makes you feel good. Discover something that you enjoy that suits your level of fitness and mobility. There is much evidence that shows that people who have good levels of wellbeing at work are more likely to be productive, more creative and provide better customer satisfaction – which is good for both employer and employee. 2018/19 is Swindon’s Year of Mental Health. Swindon Council want to raise awareness of mental health and encourage individuals, organisations and communities to improve mental health and wellbeing. Swindon Council is asking businesses to get involved and let them know what you are doing to improve mental health and wellbeing in your organisation. Contact [email protected] to find out more about the project and to share your company initiatives. Award w