The COVID-19 pandemic is having a wider economic impact then just financially, the concern is the mental health of small business owners
Many businesses according to recent research is showing that one of the highest related challenges is mental health, followed by financial concerns due to cash flow.
Due to the COVID-19 Pandemic, many small businesses are feeling the direct impact of this pandemic with one in five business owners suffering from stress, anxiety and some have those owners are also suffering from depression.
“Businesses whose owners and operators are aged between 18 and 39 were most likely to agree that they had felt anxiety or stress (68 per cent agreed).”
The survey found retail and hospitality businesses were most likely to state the key business-related cause of mental health challenges was the COVID-19 pandemic and its economic impact (46 per cent)”
With the possibility of the Jobkeeper to be reduced or removed after September, this will have a direct impact on small business owners finances and cash flow, which will flow on to their mental wellbeing.
If you are going through a tough time at present, there are companies like Lifeline on 13 11 44 who help in Crisis Support.
Even though I am a Bookkeeper, I am speaking regularly with my clients who are going through hardship and anxiety. Not that I am a Counsellor, but if you have any concerns relating to your financial circumstances, I am only a phone call away.
Maree Punzet – Marees Mobile Bookkeeping
M: 0429 363 047
W: www.mareesmobilebookkeeping.com.au
