FSB finds one in three business owners suffered COVID-related mental health decline

09 May 2022

Research carried out by the Federation of Small Businesses (FSB) has found that 34% of small business owners had their mental health adversely impacted by the coronavirus (COVID-19) pandemic.

The FSB's survey also found that 24% of respondents currently have a mental health condition such as anxiety, depression or post-traumatic stress. 16% of small business owners report having a mild mental health condition; 6% stated that they have a moderate mental health condition; and 2% said that they have a severe mental health condition.

Commenting on the issue, Tina McKenzie, Policy and Advocacy Chair at the FSB, said: 'Whether it's the migrant entrepreneur suffering post-traumatic stress, the aspiring start-up creator wrestling with depression as they struggle to find work, or the thousands of business owners who feel isolated and hopeless because of late payment, policymakers should reflect on the challenges faced by entrepreneurs during this Mental Health Awareness week.

'By building on, and promoting access to, the support that's already available to business owners and their teams, the government can make a real difference to mental wellbeing.'