Running a small business is a rewarding journey, but it can also be a tough gig. You’re juggling multiple roles, making critical decisions, and often burning the candle at both ends. It’s no wonder that many small business owners in Australia are feeling the strain.

So, let’s have a chat about why your wellbeing matters and how you can look after yourself while steering your business to success.

The wellbeing landscape for Aussie small business owners

Recent studies paint a concerning picture of the mental health of small business owners in Australia. According to Xero’s 2023 Small Business Wellbeing Report, the overall wellbeing of Australian small business owners is currently behind that of the general population. High inflation, economic uncertainty, and concerns about staff wellbeing are among the challenges contributing to this trend.

Additionally, a survey by MYOB found that 31 per cent of small business owners consider mental health an immediate concern, yet almost the same percentage (30 per cent) find it difficult to talk about.

These stats highlight the importance of prioritising mental health and seeking support when needed.

Why your wellbeing matters

Your business might be your passion, but without a healthy and happy you, it’s hard to keep things running smoothly. Stress and burnout can cloud your judgement, hamper productivity, and even lead to serious health issues. Taking care of your mental and physical health isn’t just good for you, it’s good for your business, too.

Investing in your wellbeing can lead to:

• Improved decision-making: A clear and focused mind helps in making better business choices.
• Increased productivity: When you’re feeling good, you’re more efficient and effective in your work.
• Enhanced creativity: A healthy mind fosters innovative ideas and solutions.
• Better relationships: Maintaining your wellbeing can improve interactions with employees, customers, and loved ones.
• Sustainable business growth: A well-balanced approach ensures you’re in it for the long haul, reducing the risk of burnout.

Recognising the signs of stress and burnout

As a small business owner, you wear many hats and constantly juggle tasks, making it easy to overlook the subtle signs that you might be heading toward burnout.

Burnout isn’t just about feeling tired after a long day or week. It’s a deeper, long-term state of emotional, physical, and mental exhaustion that can sneak up on you. It usually occurs after prolonged periods of stress without enough recovery time.

The challenges of running a business, like managing finances, handling customer complaints, and making key decisions can feel relentless. Over time, without proper self-care, it’s easy to burn the candle at both ends. When you’re constantly under pressure and feel like you’re not keeping up, your energy levels can drop, and your ability to think clearly and make decisions can become impaired.

But the good news is that burnout can often be avoided or managed if you’re able to recognise its early warning signs. Ignoring them can lead to long-term health issues, a decline in productivity, and strained relationships with your team, customers, and loved ones.

So, it’s crucial to pay attention to how you’re feeling – both physically and emotionally. If you’re noticing changes in how you feel, think, or behave, it’s time to take action.

3 warning signs of burnout

• Physical symptoms: Frequent headaches, muscle tension, or unexplained aches and pains.
• Emotional signs: Feeling irritable, anxious, or overwhelmed.
• Behavioural changes: Withdrawing from social interactions, changes in sleep patterns, or relying on alcohol or other substances to cope.

If you’re noticing these signs, it’s time to take a step back and assess your wellbeing.

Understanding burnout

Burnout is more than just feeling tired after a long week. It’s a state of emotional, physical, and mental exhaustion caused by prolonged stress.

According to the World Health Organisation (WHO), burnout is characterised by:

• Feelings of energy depletion or exhaustion.
• Increased mental distance from one’s job, or feelings of negativism or cynicism related to one’s job.
• Reduced professional efficacy.

In Australia, burnout is a significant concern. A recent report highlighted that Australia has been identified as the most “burnt out” nation in the world, with 1 in 2 individuals affected by excessive and prolonged stress, leaving them mentally exhausted and unmotivated.

Practical steps to boost your wellbeing

Here are some friendly tips to help you maintain a healthy balance:

• Set boundaries: Define your work hours and stick to them. It’s okay to say no sometimes.
• Delegate tasks: You don’t have to do everything yourself. Trust your team or consider outsourcing certain tasks.
• Take regular breaks: Short breaks during the day can boost productivity and reduce stress.
• Stay connected: Keep in touch with friends, family, or fellow business owners. Sharing experiences can be a great relief.
• Seek professional help if needed: There’s no shame in reaching out to a professional for support.

Support resources available

You’re not alone on this journey. There are several resources tailored specifically for small business owners:

• NewAccess for Small Business Owners: A free and confidential mental health coaching program developed by Beyond Blue. Over six sessions, a coach with a small business background will work with you to manage stress and develop practical skills.
• Ahead for Business: A digital hub designed to support the wellbeing of small business owners. It offers tailored resources, an online community, and tools to track your mental health journey.
• Heads Up: An initiative by Beyond Blue providing free, practical information and resources to create mentally healthy workplaces.

Remember, taking care of your wellbeing isn’t a luxury, it’s a necessity. By prioritising your mental and physical health, you’re not only enhancing your quality of life but also paving the way for your business to thrive. After all, a healthy business starts with a healthy you.