Researchers found that 49% of entrepreneurs surveyed were dealing with at least one mental illness (such as ADD, ADHD, bipolar disorder, addiction, depression or anxiety) and about a third of entrepreneurs struggle with 2 or more mental illnesses. Considering how much the game of entrepreneurship is idolized and associated with words such as “freedom” and “autonomy”, the emotional side of building companies is not so often talked about. A more controversial and well-known view is that entrepreneurs report mental health problems significantly higher than professionals who work every day. According to a study by the University of California at Berkeley, 72% of entrepreneurs in this sample reported mental health problems.
Employers were significantly more likely to report a lifetime history of depression (30%), ADHD (29%), substance use conditions (12%), and bipolar diagnosis (11%). Starting a company from scratch can be risky, exhilarating and exhausting at times, all at the same time. The Hustle surveyed more than 300 entrepreneurs on the state of their mental health, and a whopping 63% reported dealing with burnout, and 59% said they had dealt with anxiety. Entrepreneurs have a higher-than-average rate of anxiety and depression.
Many are standing on a dangerous precipice. The expectations of entrepreneurs are extremely high. They're trying to live up to the most successful people on earth. Starting a business causes financial instability, tension in relationships and feelings of isolation.
According to this Michael Freeman study, entrepreneurs are 50 percent more likely to report having a mental health condition. The reason is not only because it shows you in your most fragile state, but because it informs your employees that they know that by being honest with yours, you also respect their mental health, which will reduce their own anxiety about how honest they can be working with you. And at the time, many of the people I knew within the business community were very obsessed with this story. Although many of these stressors exist in the general population, entrepreneurs are more vulnerable to mental illness than most and few resources cater to this unique group.
Statistically, entrepreneurs are more likely to be affected by mental health problems, whatever you are. Well, the unfortunate reality is that these kinds of problems are everyday events in the life of an entrepreneur. I am very lucky to say that I have been free of these problems for 2 years and counting, and I have become obsessed with how to manage my mental well-being. Even with hundreds of founders reporting on their own experiences, 81% of readers said there is still a stigma around mental health in the business community, and 51% of whom answered that while stigma exists, it is improving.
A recent study by Michael Freeman indicated that 49% of all entrepreneurs are at risk of suffering from at least one mental illness. Such an intense focus and obsession is one of the main causes of poor mental health among entrepreneurs. Being an entrepreneur certainly increases the likelihood of suffering from mental health problems, as women face gender-based obstacles such as gender bias in the medical system, biological influences (for example, she found that 72% of entrepreneurs reported having a history of mental health, in contrast to just the 48% of comparison participants. The three main themes that entrepreneurs identify as triggers for their feelings are co-founders, investors, and relationships (whether at work or at home).
Risk-taking failures, missed goals and stagnant progress become fertile ground for business depression. .