Purbeck Insurance Services Urges Overworked SME community to acknowledge mental wellbeing this Mental Health Awareness Week 12-15th May 2025
- 57% of SMEs are working 41-70 hours per week
- 39% think the financial aspect of running their business has impacted their mental health
- Less than a quarter of SME business owners take a break from work on their holiday
- SMEs should turn to professionals for support
May 2025: The mental health struggles of the UK’s small business community must take centre stage this Mental Health Awareness Week, says Purbeck Insurance Services, the provider of personal guarantee insurance to small business owners. A Purbeck survey of SME owners/managers highlights how financial pressures, long working hours, and the inability to ‘switch-off’ at home or on holiday, are taking a toll on business owners’ mental wellbeing. With this year’s theme for Mental Health Awareness Week centered on community, Purbeck is encouraging SME owners to reach out for support from mentors, friends and family.
As SMEs across the UK face up to additional fiscal challenges put in place in the new financial year, 39% of SME business owners think the financial aspect of running their business has impacted their mental health, according to Purbeck. Younger entrepreneurs are struggling most as this figure rises to 51% in 25-34 year olds. It's also more common amongst female leaders to find the financial challenges difficult, 49% said they felt it had impacted their mental health compared to 35 % of men.
82% of young business owners are waving goodbye to holidays
Running your own business has its upsides but Purbeck’s survey highlights a key stress factor is working hours. In fact, 57% of business decision makers surveyed are working 41-70 hours per week, that’s well in excess of the UK average working week for full-time employees, which stands at 36.5 hours. While most work 41-50 hours a week (43%) it is the 45-54 year olds who put the longest hours in of all age groups with half regularly working up to 50 hours a week.
Escaping on holiday is not an option for the majority of SME owner/managers either. Over three-quarters (76%) admit to working when they are on holiday, this rises to 82% amongst 25-35 year-olds. Only 22% of business owners take a break from work while they are on holiday.
Running away from pressures
Despite the limited time available to take time out from the pressures of operating an SME, when opportunity arises, watching TV is the number way to switch off. On a positive note, regular exercise, which is associated with lower rates of depression and anxiety, such as running or walking, is the next most popular way to unwind. Socialising, then cooking are also popular ways to relax. Just 4% said they don't switch off at all.
Purbeck’s survey underlines the fact that running your own business can be overwhelming. SME owners/managers shouldering personal guarantee commitments for business loans can however ease their financial fears concerns through Personal Guarantee Insurance. This innovative insurance offers more than just financial protection, it includes expert advice, mentoring support for businesses in financial distress, and specialist mediation when debts need to be settled.
Comments Todd Davison, MD of Purbeck Insurance Services, “Unlike many larger organisations that have comprehensive mental health workplace policies, too many small businesses fall through the cracks when it comes to looking after mental wellbeing. Anxiety and depression are the most common problems reported by people with long term health conditions, so unless business owners take time out to prioritise self-care, they could risk both their health and their company’s success. Seeking professional financial and legal support can help alleviate the pressures of day-to-day operations. Meanwhile charities like Mind and organisations including the Federation of Small Businesses are great places to turn to, offering valuable resources for those in need.”
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