Member Article

Business worries are fuelling a mental health crisis

Rising inflation, spiralling energy charges, fears of recession and the ongoing impact of the pandemic…they’re all factors serious enough to make anybody feel tense.

But Sheffield insolvency practitioner Danielle Shore says that the cumulative effect of the squeeze on the economy is having a major impact on the mental health of the business community.

She believes that some of those worst affected are younger business people who lack the experience to see how they can weather the current financial storm.

And she adds that by the time they seek advice about their business prospects, they are showing serious signs of extreme mental distress and even physical breakdown.

“People who have worked hard to build up a business find themselves feeling humiliated at the position they are now in, their sense of self worth suffers and perhaps worse of all there is a sense that they have let down their employees, their creditors and, most importantly in many cases, their families,” said Danielle, who is based in the Sheffield office of insolvency practitioners Graywoods Leonard Curtis.

“They come to us for advice and we find that some are so afraid for the future that they really do feel suicidal, pushed to the limit by their situation.

“This is the point at which they begin to experience symptoms of both physical and mental ill health, often exacerbated by the fact that they believe, quite wrongly, that there is no positive way out of the situation.

“We’re talking here about people with many years of experience in business but those feelings of anxiety and negativity, in my experience, can be even worse among younger people who launch their businesses with great hopes for the future but who have no experience of how to negotiate their way through the sort of financial crisis many companies are facing right now.

“Again, personal experience suggests to me that the problem does seem to be greater among men, which does very much tie in with national statistics on suicide and male mental health issues.

“Even today, genders roles can dictate when men express emotion and that can create a stigma that leads to the suppression of feelings through a fear of not appearing sufficiently strong.

“They feel pressure from all sides, they are at that point where they have no hope, when they believe they are facing an insurmountable problem when in fact it is something that really can be dealt with.

“They don’t want to be seen as failing, especially when they have staff to pay and often young families to support.

“The best advice I can give, though, is to take advice because there is help available.

“We see people who, after just one meeting, say they have slept for the first time in months, simply because they have finally shared their problem.

“We can’t make the problem go away but we can explain the measures and options that are available begin the necessary steps towards moving forward.

“And just like visiting the doctor, the sooner you make the appointment, the sooner you’ll get the proper diagnosis for your problem and begin to take appropriate action.”

This was posted in Bdaily's Members' News section by John Highfield .