What can I do if my business is making me depressed?
Depression is a mental state of unhappiness which can bring psychological, emotional and physical effects to daily life. We have recently seen a rise of mental health in the UK, interestingly a rise in work related mental health issues. It was found in the 2018/19 Labour Force Survey, that there were over 600,000 workers suffering from work-related stress, depression or anxiety. Therefore, becoming depressed due to work is not uncommon.
You are not alone.
Often, businesses can make employees and directors depressed, by many ways, for example:
- Workplace Disputes
- Pressure from External/Internal Contacts
- Costs Rising
- Sales Falling
- Profits becoming Losses
- Loss of Control
- Poor Workplace Environment
- Too Much Being Demanded of You
- Decisions to Be Made
- Working Alone
- Loss of Enthusiasm
Of course, these are not the only ways!
If you’re a depressed employee, the options for you may be easier – you can get therapy or leave – you have less responsibility for the business. However, if you’re a business owner, then options may seem more limited. When business owners get depressed, there is more risk for the company to run into financial problems as the owner tends to lose motivation to manage the accounts and general business activities, hence poor management results in unpaid bills, heavy debts and can be the recipe to business disaster. Conversely, the poor debts and finances can cause the depression. No matter what…you have options.
Debts? Financial troubles? How do I solve this?
If you’re facing pressure and the company is failing financially, you can call us today on 0800 970 0539. We can help you with your issues. Whether you just need someone to speak to, or just need advice and input – we can assist. Some of what we can offer is contacts who can help you raise finance, help to assess your financial position and talk through options to better manage your situation. You don’t know unless you try – this could save your business from going under…as well as your health!
Further advice if your business is making you depressed
- Do something now, before it is too late – don’t dig yourself a deeper hole.
- Keep things in perspective: if your business is performing poorly, then this isn’t the end of the world every business experiences good periods and bad periods, so let the bad period occur and wait for the good.
- Don’t be ashamed. Your business may be failing, but it doesn’t mean you are a failure. The business is not a reflection on you as a person.
- Try to schedule your daily life, ensure you have a work-life balance – this will help you to reduce the depressive symptoms and ensure the work is not taking over and bringing you down even more.
- Look after yourself physically.
- Do not be afraid to ask for help or support. This can be in terms of professional support, medical support, business support or even family and friends support – there are plenty of people out there both online and face to face! Talking is proven to be the best therapy!!!
Categories: Implications for Directors
Worried about poor cashflow? Covid-19?, How to pay wages on pay day? For expert advice on a range of issues download our free Ultimate Guide For Worried Directors today. Or just call us on 0800 9700539
Please note that the guide includes updates due to Covid-19 For instance there have been some changes to insolvency legislation that limits creditors actions and relaxes rules regarding wrongful trading. A new 20 day moratorium for distressed businesses has also been introduced.