The amount of reshaping and replanning they’ve had to do has left many business owners tired - and staring down many factors that are out of their control. “Running a small business can be stressful at the best of times, let alone amid a pandemic. You'll also receive messages on behalf of our partners. Over two thirds of businesses in the retail and hospitality sector reported that running their business had caused them stress, while 57% had experienced anxiety and 45% said they had encountered feelings of depression.Ĭhief employee experience officer for MYOB, Helen Lea, says these findings speak to the state of play - and state of mind - for many small businesses in Australia. 28% of respondents said COVID was the top cause of that stress.Īs may be expected, some sectors have been feeling more pressure than others. In MYOB’s June 2021 Business monitor report, 52% of SMEs indicated that running their business in the last 12 months had caused them stress, up seven percentage points compared to the same time last year (45% in June 2020). Prior to the most recent lockdowns in NSW, ACT and Victoria, small business owners were already feeling the strain.
While the last 18 months has proven how resilient SMEs can be, with many businesses pivoting to combat an unpredictable pandemic, the state of high alert businesses have faced, coupled with ongoing uncertainty, has left many emotionally and physically spent.
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