How to prioritise your mental health as a business owner

While running your own business might give you an incredible sense of independence and success, it can often come with a significant emotional cost.

Indeed, according to a survey from Simply Business, 56% of small business owners reported experiencing poor mental health in the 12 months leading to April 2023.

This high figure might come as no surprise given that 73% of business owners take fewer than 20 days of annual leave each year, far below the average national entitlement of 28 days.

As a result, respondents reported feeling:

Anxiety (59%)
Depression (38%)
Loneliness (22%)

Thankfully, while operating your own business can be emotionally taxing, there are some steps you can take to protect your mental health.

Since 10 October was World Mental Health Day, this could be the ideal time to examine some ways you can prioritise your mental health as a business owner. Read on to discover four practical tips.

1. Make sure to fully disconnect from work when you’ve finished for the day

When work is hectic, you might find it challenging to set clear boundaries between your working and personal life.

According to Workplace Insight, two-thirds of workers reported feeling unable to disconnect from work, leading to increased stress. This struggle to fully switch off from work is even more prominent for business owners, with a survey reported by Surrey Live revealing that more than 90% admit to working while on holiday.

Failing to set clear boundaries between your work and home can take a significant toll on your mental and emotional wellbeing, making it harder to relax and increasing the risk of burnout.

If you find yourself constantly answering emails late into the night or working over the weekend, it might be worth reassessing your work-life balance.

For instance, setting limits on your working hours could be a simple yet effective way to regain control. You might even consider making changes to your routine, such as disabling work emails on your personal phone or physically putting away your laptop at the end of the day.

Eventually, this could help reduce stress and maintain the energy needed to tackle the challenges of managing your own business.

2. Take up a hobby that involves exercise

Physical exercise is perhaps one of the most effective ways to improve your mental health. Research from Health Direct shows that regular physical activity can reduce stress, alleviate symptoms of anxiety and depression, and even enhance sleep quality.

These benefits are due to the release of serotonin and endorphins in the brain, “feel-good” neurochemicals that act as natural stress relievers.

According to the NHS, adults should aim for at least 150 minutes of moderate-intensity exercise each week, or 75 minutes of vigorous activity spread over several days.

While hitting the gym is a fantastic way to stay active, even simpler forms of exercise – such as walking – can make a difference.

Better yet, the National Trust reports that spending time outdoors in nature can help reduce stress.

Whether you go for a brisk walk, pick up a new sport, or try a new outdoor hobby – such as fishing or gardening – incorporating more physical exercise into your routine can help you create a healthy balance between your work and life.

3. Seek mental health support from a professional

While self-care is important when you’re managing your mental health as a business owner, it’s equally important to acknowledge when you need help from a professional.

When you’re carrying the burden of a business on your shoulders, simply talking through your feelings with a therapist can be an incredible source of relief.

The NHS offers a range of talking therapies for people in England over the age of 18, which are designed to treat common mental health conditions. All you need to do is speak to your GP, and they will point you in the right direction.

If you’d rather explore your options independently, services such as Mind offer information regarding mental health issues and guidance on where to find support.

Alternatively, the Samaritans offer 24-hour confidential support over the phone or online if you need to talk to someone immediately.

Seeking this professional help can make a significant difference in your mental health. A problem shared is a problem halved, after all, and there’s no need to face your challenges alone.

4. Work with a financial planner to secure some peace of mind regarding your wealth

A considerable source of stress and worry for many business owners is financial uncertainty, as managing both your personal wealth and the success of your business can seem overwhelming.

These concerns can take a toll on your mental wellbeing, and, in some cases, mean you make poor decisions, further exacerbating your situation.

This is where financial planning can provide a sense of security and peace of mind. By working with a planner, you can clarify your financial goals and create a roadmap for achieving them. Doing so allows you to take better control of your future and reduce any uncertainty that often causes stress.

Your planner could also help you navigate your finances with confidence, ensuring you’re prepared for any challenges that may arise.

In fact, a survey from Royal London found that, after receiving professional advice:

34% of clients felt more confident in their financial plans
34% felt more in control of their finances
32% secured some peace of mind.

By having a trusted expert at your side, you could offload some of the financial stress that often comes with running your own business and focus on improving your mental health.