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Small business owners say mental health declining amid inflation and poor work-life balance, new report suggests

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A Canadian survey of 1,500 entrepreneurs found only 35 per cent of respondents say they sought professional help for a mental health concern.

Canadian entrepreneurs’ mental health has declined “significantly” over the past year amid rising costs and poor work-life balance, suggests a new report by the Business Development Bank of Canada .

As well, more than half of the entrepreneurs surveyed cited inflation as a source of stress. A similar proportion, roughly 54 per cent, indicated a poor work-life balance was leading to negative mental health outcomes. “Inflation rates and other factors are affecting their business in ways they can’t control, leaving many entrepreneurs resorting to working even longer hours just to stay afloat.”

The new survey, released Tuesday and conducted in late February and early March, comes on the heels of another report by the Canadian Federation of Independent Business, which founddue to labour shortages in the workforce.

 

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