Keeping up the ko¯rero
Owning a small business has never been harder, but a strong support network can help.
Let’s face it – there’s never been a harder time to be a small-business owner. There’s so much to take in and consider and nobody can give definitive answers to the most important questions.
Mental wellbeing is extremely important to me.
At Xero we’re passionate about enabling ourselves to live a healthy, balanced lifestyle and we want all small businesses across Aotearoa to do the same.
As part of this, we worked with the Mental Health Foundation last year on research looking into the mental wellbeing of small-business employees and owners. We found only 32 per cent of respondents believed their team would benefit from improved wellbeing.
This is a statistic that’s hard for me to believe.
Poor wellbeing not only impacts our quality of life, but it’s also a big factor in how productive we are at work.
An unhappy nation is bad for the economy, and mental wellbeing needs to be a big focus as we rebuild from the devastating consequences of Covid-19.
One research respondent who was losing sleep over the state of his business’ finances admitted his main concern was ensuring his wife didn’t find out about how bad the situation was. He didn’t want her to face the same stress he was going through.
For business owners and sole traders, it can be easy to bottle up these feelings and bear the weight of the world on their shoulders.
It’s this individualistic attitude that can contribute to Aotearoa’s staggering mental wellbeing issues.
Building strong support networks with friends, wha¯ nau and other business owners is essential at times like this, as is being able to openly talk about the stress and issues weighing on your mind.
There’s an opportunity for introspection during these times as well. One way of coping with stress is examining our state of mind and our relationship with our emotions.
After all, the right amount of stress can be beneficial in the long term – something the Mental Health Foundation highlights through the three Rs.
Relaxing | Whakata¯
First of all, it’s important to remember we’re allowed to relax, to take time out and engage actively in inactivity – ‘‘switching on’’ our relaxation response so we can minimise the harm that longterm stress can cause.
We need to trigger this relaxation response to let our body recover.
Refuelling | Whakatipu
Managing stress means looking after wellbeing and cultivating energy to refuel.
It’s important to know what tops us up and what drains our energy, and what we need personally to keep going.
Regular exercise, eating healthy food, doing activities that bring joy and making time for relaxing and socialising are all important ways we can look after ourselves.
Resolving | Whakatika
Digging deeper, we need to be able to identify our stressors and find solutions that help resolve the causes of stress.
For many problems it’s possible to explore what options we have in order to change the situation, rethink the problem, or accept what has happened.
Identifying what the issues and situations are that are affecting stress levels and recognising the impacts will support effective problem solving.
For example, if you’re concerned about being able to pay invoices off at this time, getting in touch with your accountant and/or bank to figure out a solution is the first step.
Once we identify problems and solutions, we can manage our stress in healthy ways, rather than have it fester and manifest into negativity.
I can’t emphasise enough the importance of communication.
No-one is an island at the best of times, and now more than ever we need to make sure we’re being empathetic and kind.
There are multiple helplines for people to talk anonymously with trained healthcare professionals including our own XAP programme for Xero subscribers.
There is also the amazing work being done by Mike King’s I Am Hope organisation, as well as the development of a new app, Mentemia, by mental health advocate Sir John Kirwan.
Keeping up the ko¯ rero has never been more essential.
The Government has introduced measures to help as many New Zealand businesses survive this pandemic.
In conjunction with this, support local businesses and each other. Keep the money flowing through our local economy, pay invoices on time, and be a part of rebuilding our nation in the wake of this unprecedented event.
But most of all, be there for each other.
An unhappy nation is bad for the economy, and mental wellbeing needs to be a big focus as we rebuild from the devastating consequences of Covid-19.