Small and medium-sized enterprises (SMEs) make up 97% of all businesses in New Zealand. As the owner of an SME, you’re doing your bit to provide employment, aid the economy and put Aotearoa on the map in an increasingly globalised world.
But running your own business can be incredibly stressful!
New research from RFI Global research, commissioned by Prospa, shows that seven in ten New Zealand SMEs are feeling stressed and burnt out. On the whole, this stress comes down to economic pressures, cashflow worries and the time commitments of being an owner.
So, what can you do to remove some of the pressure and avoid business burnout?
Practical ways to ease your business stress
Let’s look at some simple ways to bring those anxiety and stress levels down:
Ease those financial worries – you can’t change external factors like the economy, but you can get deeper into cashflow forecasting, spend management and cost-cutting exercises to put your cashflow and revenue in a more positive position.
Look for a business mentor
Partnering with an experienced business mentor can work wonders for both your business knowledge and your mental health. Mentors can share their experiences of the lean times, and what they did to overcome the challenges.
Take time away from the business
You can’t have your business brain turned on 24/7. Schedule time away from the business to improve your work/life balance. Time away can be hugely beneficial, allowing you to come back refreshed and motivated.
Focus on your own health and wellbeing
The long hours of running a business are not always conducive to healthy living, both for your physical and mental health. Try to eat and drink healthily, and also make time for exercise, social activities and a greater focus on relaxation, mindfulness and your personal wellbeing.
Work closely with your accountant
You don’t have to shoulder those cashflow worries alone! We can work closely with you to keep your cashflow in a more positive position, while also providing wider financial, advisory and business support.
Talk to us about about dialling down those stress levels
To run a healthy business, you need to be fit, healthy and in a good place personally. Constantly pushing yourself can quickly lead to burnout – and that’s a recipe for disaster!
We understand the pressure you can feel as a business owner.
So, we’re here to help take on some of the load, whether it’s strategic business advice, cashflow forecasting or introducing you to the right mentor from our business networks.
