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Running a small finance business ‘detrimental to physical health’

More than a quarter of financial SME owners have had a health scare since starting their business

More than a quarter (27%) of small financial business owners in the UK have had a health scare since starting their business according to research from Ultimate Finance, which explores the pressure British SMEs are under in the UK.

  • Seventy nine percent of financial business owners and managers worry their current work / life balance is having a negative impact on their health
  • Two fifths (40%) have found it hard to eat healthily since starting a business, while a further 21% struggle to go to the gym and maintain their health regime.
  • Eighty one percent worry about the future and their health due to their work habits

Steve Noble, ‎Chief Operating Officer at Ultimate Finance commented: “While it is common knowledge that running your own business is stressful, we were shocked it has triggered health scares in so many entrepreneurs in the banking and finance sector.  It can be isolating spearheading a business, particularly in uncertain economic and political times and clearly the strain is taking its toll in terms of personal health and wellbeing. Many SMEs operating in the financial sector are simply not finding the time to eat well or exercise.

“When you consider that over five million businesses are SMEs, we could be heading towards a bit of a crisis. We need to start talking seriously about the importance of prioritising physical health, not just for the sake of entrepreneurs’ personal health but to ensure the long-term success of their business.” 

Business psychologist Robert Stewart added: “Many SME owners focus on the needs of the business and their employees but fail to address their own personal needs. At the start of a new year, I would urge the UK’s financial SME community to take this research seriously and establish their own process for looking after themselves. This may be in the form of a personal wellbeing advocate who can ask them difficult questions about their work / life balance or simply by taking a more honest look at the way they work and creating boundaries and new habits of eating well and exercising.”

The independent survey, carried out by 3Gem on behalf of SME funding partner Ultimate Finance, questioned hundreds of managing directors, across a range of sectors, about the impact that running their business was having on their lives.

Ultimate Finance conducted the research as part of a bigger SME wellbeing campaign, with the aim of highlighting the need for small business owners to consider their own health, as well as their employees. To help SMEs who need support with their wellbeing, the leading UK funding ally has created an information hub with insight and guidance on a range of business wellbeing topics.

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