The line between being level-headed and being anxious is growing thinner day by day for entrepreneurs on the rise. Sometimes, they may not even realize they are in a crisis until they’re in the thick of it, and helpful resources can be hard to come by. Entrepreneurs, while being incredibly ambitious and determined, are 50% more likely to find themselves at the brunt of mental health issues, yet only 23% decide to seek professional help.
The correlation between work-life stresses and ongoing mental health issues are significant for business owners—especially those who have had more failure than success.
According to a study by Startup Snapshot, the largest stressor for entrepreneurs is the uncertainty about their business’ future. They also largely fear the difficulty of adapting, as Positive Beginnings reports, alongside the immense pressure to succeed. Financial turbulence is another major source of stress. Not knowing if you are going to make payroll next month or be able to pay bills is a significant concern—not only for entrepreneurs but for every working-class person. This stress is reported to be even higher among women and business owners of color.
These are only a few of the many factors that contribute to stress in business owners. It becomes overwhelming when faced with the confrontation of giving in to the anxiety or fighting it. When businesses fail (more often than not, they will), society frowns upon it, leading to self-doubt and concerns about not being a respectable or smart business owner. This creates anxiety about starting up again—what if you fail a second time?
Long-term, more serious mental health crises can arise from this stress. Entrepreneurs are twice as likely to suffer from depression, according to a study by Forbes. Repeated exposure to stressful environments and situations is a direct gateway to insomnia, depression, and anxiety disorders, as shown by a study from Positive Beginnings. The difficulty begins with admitting to mental struggles, as the no-nonsense atmosphere surrounding entrepreneurship discourages seeking help. Loneliness within this group has also been linked to mental health issues, with isolation often leading to depression.
What can be done about this growing yet untold side of the story?
Many entrepreneurs have found it helpful to consult their family and friends, spending more time with them during their lowest moments, according to a study by Endeavor. It also notes that prioritizing physical health—whether through exercise, better sleep habits, or simply taking nature walks—can be beneficial.
Another recommended approach is expanding one's social network. Many experienced entrepreneurs enjoy mentoring up-and-coming business owners, allowing both sides to share challenges and create supportive bonds. Additionally, joining entrepreneurial circles and support groups—whether online or in person—is a great way to reduce feelings of isolation, as reported by Positive Beginnings.
Seeking out licensed therapy and/or professional help is of the utmost importance for all human beings. If you notice these harbored emotions, we urge you not to be afraid to reach out for assistance. As this article is for purely informational purposes, a licensed therapist would be able to facilitate you best with their professional standpoint.
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