It is interesting to know that depression is more common among entrepreneurs than in the normal population. On average, 7% of the population suffers from depression, while a whopping 30% of entrepreneurs suffer from depression. Therefore, it should come as no surprise that entrepreneurs experience more anxiety than employees. In the latest Gallup-Healthways welfare index, 34 percent of employers (4 percentage points higher than other workers) reported that they were worried.
And 45 percent of employers said they were stressed, 3 percentage points higher than other workers. It is known that entrepreneurs are twice as likely to suffer from depression as traditional employees. NHS research from England shows that one in four adults suffers from mental illness. Being an entrepreneur increases your risk even more.
According to research by Michael Freeman, entrepreneurs are 50% more likely to report having a mental health condition, with certain conditions that are more prevalent among founders and character traits that make them more susceptible to mood swings. Whose professional and personal experience makes him in a unique position to discuss the link between entrepreneurs and depression. Share your experience with depression with colleagues and other entrepreneurs, wait, encourage others to ask for help. Such an intense focus and obsession is one of the main causes of poor mental health among entrepreneurs.
After a successful entry into the venture, with an award-winning business plan and fundraising records, Corrado soon discovered that adversity could hit hard and fast. At the same time, while encouraging other entrepreneurs to share their experiences with depression, it underlines the importance of opportunity. Entrepreneurs often juggle many roles and face countless setbacks (loss of customers, disputes with partners, increased competition, personnel problems), all while struggling to pay payroll. Mental health resources are limited for most Americans, but employers often opt for basic (or no) insurance without much coverage for mental health problems.
A more controversial and well-known view is that entrepreneurs report mental health problems significantly higher than professionals who work every day. According to researchers, many entrepreneurs share innate character traits that make them more vulnerable to mood swings. In turn, as more entrepreneurs frankly discuss their experiences with depression, this will help weaken the stigma surrounding mental health issues. Instead, Dubowec encourages entrepreneurs to take a step back and examine the experience of depression within a broader context.
Chronic stress is not known to be a mental disorder, but it is a sign of poor mental health because it brings feelings of hopelessness, lack of direction and lack of importance to an entrepreneur. His latest book, The Entrepreneurial Myth, examines why entrepreneurs suffer more from poor mental health than the general population. Employers should always take advantage of the option of regular mental health reviews through brief counseling sessions and psychometric tests. She challenges business owners, educators and legislators to reconsider toxic tropes about the “entrepreneurial mentality.” Risk-taking failures, unmet goals and stagnant progress become fertile ground for business depression.