Is your small business facing burnout?
Burnout among small business owners in the UK has become a pressing concern, with various studies highlighting its rise and impact.
A survey by FreeAgent in May 2023 revealed that 37% of small business owners admitted to experiencing burnout due to increasing demands.
Let’s face it – freelancing or operating a small business in the current UK economic climate has it’s pressures and challenges. But taking healthy steps to maintain resilience is essential for business progression.
So, what contributes to small business burnout?
Extended working hours
Research from Simply Business indicates that one in three (33%) small business owners have faced burnout, working an average of over 46 hours per week. That’s 10 hours more than the UK average, which can ultimately lead to physical and mental exhaustion.
Insufficient leave
Three-quarters (73%) of small business owners take fewer than 20 days off annually. That’s below the UK statutory entitlement of 28 days.
Work-life imbalance
An American Express survey reported that 88% of small business leaders experience work regularly interrupting their personal lives, with over a quarter (27%) facing such interruptions daily.
Impact on mental health
The Mental Health UK survey highlighted that 80% of small business owners experience symptoms of poor mental health, including stress, anxiety, and depression, at least a few times a year.
So, what steps can we take to mitigate burnout?
Delegation
Assigning tasks to employees or outsourcing to fellow freelancers can reduce the workload and allow business owners to focus on critical areas. Collaborating and partnering with similar sized businesses can also bring a range of benefits to lighten the load and boost your offering.
Setting boundaries
Establishing clear work hours and ensuring time for personal activities can help maintain a healthier work-life balance. It’s tough when the responsibility is on your shoulders, but productivity will undoubtedly improve by restoring balance in your life.
Regular breaks
Taking regular breaks and ensuring adequate annual leave are essential for mental and physical rejuvenation. If booking a two week holiday might be detrimental to your business, make sure you schedule more long weekends to amp up the down-time.
Seeking support
Engaging with professional networks, mentors, or mental health professionals can provide guidance and emotional support. Talking openly with businesses close to you can also give you great insight to how they might tackle similar challenges.
Summing up
Addressing burnout is crucial not only for the well-being of small business owners but also for the sustainability and growth of their businesses.
Implementing proactive measures can help mitigate the risks associated with burnout and promote a healthier work environment.
Now, to slightly lighten the mood… check out Dom Joly (AKA creator of Trigger Happy TV) fronting Air Landline’s advert to hilariously play out the tricky challenges of work-life balance.
