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Small business ownership can have a significant impact on mental wellbeing. While being a business owner can be rewarding and fulfilling, it can also be stressful and overwhelming, especially in the early stages of the business.
Here are some ways small business ownership can impact mental wellbeing:
Stress and anxiety: Small business owners often face high levels of stress and anxiety due to financial pressures, long working hours, and the uncertainty that comes with owning a business. This can lead to burnout, exhaustion, and even depression.
Financial concerns: Small business owners may experience financial instability, especially in the early stages of the business. This can lead to financial stress and worry, which can negatively impact mental wellbeing.
Isolation: You may feel isolated, especially if you are working alone. This can lead to feelings of loneliness and social isolation, which can impact mental wellbeing.
Work-life balance: It can be particularly difficult to find an acceptable work-life balance when you own a business. There are so many things to think about and to manage that it can feel overwhelming and you can end up spending all day and most of the night working both on and in your business. This will lead to stress, fatigue and burnout if it is not managed.
Responsibility and decision-making: Small business owners bear significant responsibility for the success of their business and must make important decisions that can impact their livelihoods. This can lead to feelings of pressure and overwhelm.
Small business owners need to prioritize their mental wellbeing and seek support when needed. This can include seeking out a therapist or counselor, practicing stress-management techniques such as meditation or exercise, and connecting with other small business owners for support and guidance.
Another option which many people find very helpful is to hire freelance support to provide help in areas of the business where you don't have personal experience or to provide assistance with tasks that you aren't good at, or don't enjoy.
If you feel that you would benefit from some help and support in your business, get in touch with me for a no-obligation chat.