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Study finds 82% of business owners suffered from poor mental health in pandemic

21 Jan 2022

A study carried out by insurer Simply Business has found that 82% of business owners suffered from poor mental health during the coronavirus (COVID-19) pandemic.

One in five owners surveyed stated that their mental health was 'in a bad place' as a result of the pandemic. Three in five have experienced stress and more than half suffered from anxiety, Simply Business revealed.

Over half of those polled also believe that future lockdowns could adversely impact trade.

Additionally, one in five business owners are concerned about supply chain issues. The survey found that many are facing challenges in delivering goods and sourcing appropriate stock.

Alan Thomas, UK CEO of Simply Business, said: 'Small business owners have encountered countless challenges during the course of the pandemic, with COVID-19 costing owners over £20,000 each on average. Livelihoods are on the line, and understandably this has had a huge impact on people's wellbeing – with a staggering 82% reporting poor mental health last year.'

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Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.