Stress levels for many business owners climbed during the past year, with the impact thought to be particularly hard on smaller, family-owned businesses.An international survey of 7400 business owners across 36 economies found that 44 percent of New Zeala
Stress levels for many business owners climbed during the past year, with the impact thought to be particularly hard on smaller, family-owned businesses.
An international survey of 7400 business owners across 36 economies found that 44 percent of New Zealand business owners said their stress levels had increased from a year ago, compared with a global average of 56 percent.
China topped the poll at 76 percent, with Sweden at a very relaxed 23 percent.
Peter Sherwin, a partner of Grant Thornton New Zealand, said the figures for this country masked a growing problem among small, family-owned businesses, especially where a husband and wife were involved.
"Pressure on cash flow is the major problem affecting New Zealand businesses at 19 percent, with heavy workload at 16 percent being the next most important stress factor," he said.
"Where these pressures really mount is when the owners are also husband and wife or living together. There is just no escape for them. They take home their work problems and over time the pressure becomes too great.
"In many instances family-owned businesses are financed through banks with security against their family home. So when a business starts to under perform, the pressure on an owner mounts, as not only do they worry about food on the table but also a roof over their family heads," Mr Sherwin said.
"Already I have had two clients undergo matrimonial break-ups because of this pressure, and I know there are others that are under severe pressure.
"Many can endure for considerable periods, but in the end it just becomes too much and I am worried for many of these husband and wife-type businesses."
Business owners in mainland China, Vietnam, Mexico, India and Turkey were high on the stress league table and were working in environments where high growth was expected.
Stress was also particularly high at the other end of the growth scale, in Ireland, Spain and Greece.
"We have business at both ends of the GDP growth scale experiencing high stress for very different reasons," Mr Sherwin said.
"In mainland China the pressure is on to keep up with the pace of expansion, while in Ireland, for example, the economy is retracting and business owners are worried about how they will keep their businesses alive."
