A report released Tuesday by BDC says 90% of Canadian business owners now say they are open to seeking support for a mental health issue.
The Survey on SME owners’ mental health, reveals that among those who report that they would be open to seeking support for a mental health issue, fear of a cash shortfall (62%) and the recession (51%) were identified as the main sources of stress.
According to a 2019 survey conducted prior to the pandemic by the Canadian Mental Health Association and supported by BDC, 16% of small business owners at the time said they were likely to seek professional help.
Anna Shvets
To address mental health challenges, these business owners prioritize various coping strategies, including finding quiet time to relax (59%), getting physical activity (53%) and taking time off or vacation (43%), said
“Canadian business owners are more open than ever to seeking mental health support when needed. That’s encouraging news,” said Annie Marsolais, Chief Marketing Officer and Mental Health Ambassador at BDC. “The fact that seeking mental health support is no longer as taboo as it was in the past is very positive.
“The biggest source of stress for the business owners surveyed is finances, which is no surprise given the current economic climate. However, behind these concerns lies a particular consideration for their well-being and that of their staff. The solutions that these business owners are prioritizing reflect a transformation in the work environment: flexible schedules, additional time off, remote and hybrid work, and team-building activities.”
The report also found that early half of the business owners surveyed cite work/life balance as a major source of stress (48%), which is reflected in the actions they are taking to promote good mental health among their team members. To support their employees in this area, the top two actions leaders are taking are to provide flexible schedules (55%) and additional time off (50%).
(Mario Toneguzzi is a veteran of the media industry for more than 40 years and named in 2021 a Top Ten Business Journalist in the world and only Canadian)
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