This was published 5 years ago
'They are the employer and the employee': Mental health for founders under spotlight
By Emma Koehn
The federal government and small business leaders are doubling down on mental health support for entrepreneurs amid warnings the next six weeks can present tough challenges for founders.
On Wednesday small business minister Michaelia Cash hosted a roundtable of mental health and small business leaders in Canberra to discuss empowering founders, particularly sole traders, to protect their emotional wellbeing.
Everymind Director Jaelea Skehan.
It comes off the back of the Morrison government delivering a $3.1 million grant to mental health institute Everymind to extend its 'Ahead for Business' mental health program.
"That is huge for them that someone has acknowledged that they [business owners] are the employer and employee. We are showing that we are listening to small business and responding to what they are putting on the table and their concerns," Cash says.
Everymind director Jaelea Skehan says these discussions come ahead of what can be a very tough period for small business operators.
"Across a lot of businesses, the end of the year is when you want to finish things off. There's a push to work. People are tired, then you add in social functions on top of deadlines," Skehan says.
Without proper frameworks for preparing for down time or seeking assistance, it can be a period of stress points, Skehan says.
Founder of Afea Care Services, Esha Oberoi, agrees. Last year Afea was turning over $10 million and as her home and aged care business grew revenue by more than 20 per cent over the past 12 months, mental health has been front of mind.
Esha Oberoi says business owners must think about planning to protect their own emotional health this time of year.
"As we're spread between the business, social events and social media, our brains need to slow down. There's no time unless we actually put things in our diary," Oberoi says.
The founder has experienced depression previously and says she is taking a range of steps to empower herself and her staff to track their wellbeing. The end of year is particularly tough in the sector because regular carers tend to go on leave, Oberoi says.
Five years ago she began studying meditation after approached health care professionals with concerns when she couldn't focus on her work within the business.
"I went through some generic tests and he said, 'you’re a really high functioning individual, but you’re really stressed'," Oberoi says.
The importance of discussing mental health from the top of a business down is now critical to her.
"As leaders I think we need to be vulnerable, and lead by example. If we're having a tough day, where the agenda is so crippling, it's ok to talk to the executive team about this," Oberoi says.
Business planning key
News of the government's focus on mental health has been welcomed as an acknowledgment self-employed people don't see automatic success, says founder of cryptocurrency investing app Amber, Aleksandar Svetski.
"I think it’s brilliant because there has always been this neglect of business owners - people don’t realise how hard it is, particularly the self-employed, the non-Jeff Bezoses of the world, to make a living," he says.
"All the focus has usually been on making sure the employee is fine."
But these conversations are also important because mental health care is also a business planning issue, says small business advocate Leanne Faulkner.
Leanne Faulkner is an advocate for mental health in small business.
"I think it’s about where possible, having personal boundaries. And making sure you do have some time to celebrate or have downtime," Faulkner says.
Planning in advance for the cashflow slowdown that happens each January can also help alleviate some pressure so business owners can take a holiday.
"Ask, 'Do I know my gross profit margins?' 'Have I put money aside to cover my holiday?'" she says.
"Perhaps over the Christmas period, we all have time to do that."