A third of small business owners admit that their mental health declined considerably over the course of the pandemic.
This recent FSB report coincides with the UK’s launch of Mental Health Awareness week.
Surveying 1,000 business owners, the FSB found that the pandemic, along with the lockdowns and worsening late payment culture that came with it, has had a detrimental impact on their mental health.
Of those surveyed, 24% said that they currently have a mental health condition such as anxiety, depression or post-traumatic stress; this figure rises to 43% among disabled entrepreneurs.
FSB Policy & Advocacy Chair Tina McKenzie, commented, “Whether it’s the migrant entrepreneur suffering post-traumatic stress, the aspiring start-up creator wrestling with depression as they struggle to find work, or the thousands of business owners who feel isolated and hopeless because of late payment, policymakers should reflect on the challenges faced by entrepreneurs during this Mental Health Awareness week.”