THE dark dangers of owning your own business have been revealed, but a long-time Leeton business stalwart believes these can be overcome.
New research from the Bank of Queensland’s Business Balance Report discovered the vast emotional and psychological pressures faced by small-to-medium enterprise owners.
Among some of the alarming figures was one in 10 had been diagnosed with depression, stress or anxiety at some point as a result of running their own business.
More than a quarter of small business owners had been physically unwell as a result of operating their sole venture, while a further 17 per cent had sought the services of a psychologist to help them manage the daily pressures.
Leeton’s Bruce Washington is a long-time business owner and he said it could sometimes be difficult to manage a life-work balance.
However, it said it was crucial to have a life outside of work in order for a business to succeed.
Mr Washington’s family is well-known in the business community having been operating for a long period of time.
“It can be hard sometimes … I do remember particularly when our children we young or babies it was a bit harder,” he said.
“You just have to adapt to your situation and make sure you’re trying to find the balance.
“If you need to call on a colleague for support, that’s what you do. We have been very lucky here in that sense.”
The report found 38 per cent of respondents had put plans to start a family or get married on hold because of their small business. More than a quarter delayed the purchase of a new home.
“You’ve still got to find a way to have a life outside of the business … I’ve always been involved in sporting clubs and that sort of thing, which is a good outlet,” Mr Washington said.
“In recent years I’ve been doing my cycling with a good group of people. You need to have friends and social circle that you can call on or talk to if you need to. Owning a business can be tough, but you can find the right balance, even if it does take time.”