ACCA/CFN survey reveals how mental health of SME owners is hit by crisis, with one in 10 thinking about suicide
The latest weekly ACCA UK and The Corporate Finance Network (The CFN) SME Health Tracker reveals the mental health of SME owners is being impacted by the effects of Covid-19 on their business.
Asked about their clients’ mental health, 89% of practitioners say their clients are feeling more stressed than usual and not sleeping, with 78% stating a worsened mental health condition, 56% unable to cope and an alarming 11% sharing the fact they’ve had suicidal thoughts.
This week’s poll among an expert panel of accountants representing nearly 3,000 SME clients in the UK also reports that 4% of firms had decided to liquidate, compared to 3% last week.
Claire Bennison, head of ACCA UK, says: ‘It’s important to acknowledge the wider and vital role accountants continue to have in helping small business best navigate life-changing choices during this pandemic. As the weeks pass, the impact on lives is becoming clearer; as more small business owners decide to liquidate, we’re also seeing a worsening picture of mental health in the small business community.
‘Having someone to speak to at this time is vital, and we know some hard conversations are being had, and will continue for months to come.’
For more details, click here.