Stats: Taxed-out SMEs

Why small business owners are mentally and emotionally exhausted 

The bank of Queensland launched its inaugural Business Balance Report last year to highlight the challenges SME owners confront, particularly in relation to work-life balance and mental health.

“As a bank that values our relationships with our customers, we feel it is important to raise awareness of the issues that impact small business owners and support them when times get tough,” BOQ business group executive Brendan White said in the 2018 edition.

The latest research found that the significant challenges impacting the mental health of business owners are more evident now than 12 months ago. However, the stigma around seeking help for mental issues is gradually fading. The latest report was published to coincide with World Mental Health Day on 10 October to draw attention to the burdens SMEs face and the importance of looking after one’s mental health. Some of the findings illuminate a dark side to small business ownership.