The Last Word Comment
SME owners turn to their pets
Small-business owners are turning to alternative sources of comfort to cope with increasingly stressed times, amidst growing concerns over mental-health problems
Gavin Wraith-Carter Managing director, Hitachi Capital Business Finance
With many British people facing burnouts at work and with cases of business stress on the rise, our new research suggests that most small-business owners build a reliable support system to help them through the ups and downs of running a business. For the 4,966 owners surveyed, the single
biggest port of call at times of stress was a business owner’s partner (69%), despite the fact that the divorce rates on are on the rise in the UK. However, the research also shows that small-business owners have more unsuspecting allies that they feel they can rely on as part of their support network – including their household pets (23%). Dogs were regarded as a greater stress-
buster than cats – with 14% of owners saying they talked to their pooch when they were stressed. A further 20% said that the simple pleasure of taking their dog for a walk helped them to unwind. Cats were a comfort for other owners.
Around one in 10 said they would rush home to spend time with their feline friend if work was getting them down – suggesting that snuggling up to your cat does play a part in boosting moods. Moreover: l Regionally, small-business owners in Scotland and the North West (18% and
Dogs were regarded as a greater stress-buster than cats – with 14% of owners saying they talked to their pooch when they were stressed. A further 20% said that the simple pleasure of taking their dog for a walk helped them to unwind
18%) were the most likely to talk to their dog if they had worries about work. In the East Midlands, small-business owners (13%) were more likely to speak to their cats than their counsellor or family GP (1% and 5%). l As many as 69% of small-business owners said they talked to their other half when they are stressed out – peaking amongst those that work from home (75%). l Small-business owners in the North East and London were the most likely to look for support from their fellow colleagues – 35% and 32%, compared to a national average of 18%.
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lMore than one in three small business owners (37%) said their friends were also valued sounding boards when they were stressed about work. Supportive friends were most valued by young business owners (25 to 34 years old) who were in the earlier stages of running a business. When push comes to shove, it was the
serious professionals everyone knows they should talk to who emerged as the people few relied on as being in their support network. However: l Only 3% of small business owners said they would turn to their business partner when they needed support, many preferring to rely on people outside the workplace. l Only 1% of respondents said they would sit down with a counsellor and talk about their problems – and very few said they would turn to a business mentor (1%). It is very encouraging to see that small
business owners recognise the importance of having a support system to help them through the highs and lows of running a business. There is a place for professional advice,
but outside the workplace support from trusted friends or even a walk with the dog also matters. It is all about balance and recognising the importance of being able to switch off. Whilst we can rely on our partners and
family as shoulders to cry on – the positive outtake from the research is that we are getting better at voicing our stresses, not internalising them, and recognising that it does not matter who helps you the most – as long as you feel you are supported. Mental health is being recognised as a
major issue in Britain today and, for many small-business owners, having a good work- life balance and the mechanisms in place to switch off is important to the long-term health of their small business. CCR
October 2019
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