Business Minding Services Releases New Report on Burnout in Business Owners
The report acknowledges that every business owner experiences everyday stress, but differentiates between that and burnout. It defines burnout as “a breakdown caused by a long period of overworking and stress” that often manifests slowly, creeping into one’s personal and professional life. From low energy and diminished joy to irritability and decreased productivity, the signs are subtle yet significant. Business owners may find themselves “feeling overwhelmed” or noticing a dip in leadership skills or motivation.
Business Minding Services' report is a timely one, as burnout is a growing problem in the Canadian business landscape, and has been for quite some time. In March of this year, consulting firm Robert Half reported that nearly half of all Canadian professionals - 47% - report feeling burnout in their career. What's more, 31% report feeling more burned out this year than they were in the previous. This is a major problem - in 2023, 33% of Canadian workers reported burnout. That's still a high number, but trends show no sign of this reversing.
In particular, the factors contributing to burnout are reported to be things like heavy workloads, long hours, lack of support from management, and lack of growth opportunities, among others.
To counter these pressures, the report outlines several evidence-based strategies.
In particular, it outlines the early signs of burnout. Identifying symptoms such as fatigue, anxiety, irritability or stress early allows timely intervention. “If you’re feeling increased stress, fatigue, anxiety and irritability, it may be time to take a step back”.
“Business owners are the heart of the Canadian economy,” says Nigel Vasagam, founder of Business Minding Services. “Burnout is real, but it doesn’t have to be your reality. By recognizing the early signs and implementing these strategies, business owners can protect their businesses, and their own well being too.”
About Business Minding Services
With over 20 years of experience at the Canada Revenue Agency, Business Minding Services offers expert accounting and advisory solutions, including tax planning, CRA audit support, bookkeeping, and more. Located at 321 Don Park Rd, Markham, ON, the team is dedicated to helping business owners succeed—without sacrificing their health or peace of mind.
The report is available on the firm's website.
Nigel Vasagam
Business Minding Services
+1 416-883-2488
email us here
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