MYOB Snapshot: small businesses sacrifice health for work 80% of small business owners losing sleep at night
28 Nov 2018
While the weather has improved and many Aussies are getting outdoors to be more active, MYOB has released research on the health and wellbeing of small businesses in Australia which shows small business owners are putting their health last and losing sleep.
Executive Group Marketing at MYOB, Natalie Feehan, said the first thing a business needs to operate well is a healthy business owner.
“When we spoke to small businesses about their health and the pressures of running a business, they said the pressure of balancing good service, not getting paid promptly, employee commitments and tax rules were just some of the reasons why they were losing sleep.
“We know it takes a lot to make a small business run well, which is why we believe in the connected practice. The more invoicing and compliance that businesses can do easily and on the go, the more time they will have to fit in that little bit of exercise or get to sleep earlier.”
MYOB customer and Nutrition Bar founder Eli Censor said small business owners need to remember that the best way to put their business first is to put their health and wellbeing first.
“I found out the hard way, even being in the health and fitness industry myself. When my business began to grow and my personal time diminished, not prioritising my health led to glandular fever and other health problems.
“My body couldn’t go on at the pace it was going and I was forced to break. In hindsight, a little more personal maintenance and I would have avoided this lay-off. Nothing is more important to your business than your health and wellbeing; we all need to make it a goal to honour ourselves everyday.
“This research shows just how much stress and time it takes to run a successful business. I know it's challenging, but there are small things even the busiest of people can do to protect their health,” Eli said.
What the research showed:
- 41% of small business owners said they put their health last because they are time poor and focused on the success of their business.
- 91% of small business owners admitted stress from their business impacts other areas of their lives.
- 1 in 4 respondents said they exercise sporadically, if at all.
- 83% of small business owners said they sacrifice hobbies, exercise or spending time with their family to stay on top of their work.
Tips from Eli:
- Meditation & breathing exercises: Waking up 10 minutes early to start your day with meditation or breathing exercises can really help set the tone for a positive, productive day.
- Start your day well: Exercise first thing, getting your gym session, walk or class out of the way is a great way to ensure you don’t make excuses as your workload increases in the afternoon.
- Hold moving meetings: I’m all for killing two birds with one stone. Schedule internal work meetings outside, round the block or park.
- Create a better bedtime routine: Like babies, we sleep better with routine. Try to set your phone to do not disturb from 10pm to 7am. Try and get as many hours of sleep in before midnight as you can. Sleep will make you more efficient and focused the following day.
- Mindful eating: It's all about planning and preparation. Try and get to the market on the weekend and think about your week and what nights you’ll be home. Cook double so you have your lunch sorted for the next day.
For further comment or other information please contact:
Collette Betts email@example.com 0406 947 551
MYOB Group Ltd (ASX: MYO) is a leading provider of online business management solutions. MYOB makes business life easier for approximately 1.2 million businesses across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across four strategic segments – Small to Medium sized businesses (SMEs), Practices (accountants, advisers and bookkeepers), Enterprise (larger businesses) and Payments. It provides ongoing support via many client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. MYOB is committed to ongoing innovation and delivering efficiencies and growth opportunities for its growing client base across Australia and New Zealand. For more information, visit http://investors.myob.com.au/Investors or follow @MYOB on Twitter.
About MYOB Snapshot
First carried out in July 2015, the MYOB Snapshot is a monthly online survey of a section of MYOB’s 1.2 million customers. The survey provides the opportunity to quiz SMEs about topical issues and their responses to business conditions. The November survey was conducted online from October 19th – 25th, 2018.