A MAJOR new survey has revealed that money is the biggest single issue that keeps North East entrepreneurs awake at night.
The findings emerged in a huge survey into the mental wellbeing of the region’s business leaders.
Leading business coach Ian Kinnery, who conducted the survey, said “early interventions and support”, such as coaching, can help business leaders avoid potential financial pitfalls.
“With Christmas edging ever nearer, money is on the minds of most people as they worry about how they will pay for it all,” said Ian.
“However, this shows that for most business leaders, money is at the forefront of their minds all year round.
“And clearly, even those who run a successful business still struggle to escape the stress that money causes and that is bound to have a significant negative impact on their mental health and wellbeing.
“That’s why early interventions and support, like coaching, is so crucial. Coaching isn’t just support, it is often the solution, and rather than being a reactive tool if you find yourself with money worries, it can help to guide away from financial difficulties by making you more financially sensible from the outset.”
The survey was carried out as part of Ian’s latest campaign, ‘Save the Entrepreneur’, which aims to shine a light on the hidden struggles faced by those at the top of the North East’s business ladder.
Over 61 per cent of respondents said money was their main concern – almost twice as many who identified managing staff.
It also found that loneliness was one of the biggest mental health challenges they face, while the vast majority believe there isn’t enough support in place for business leaders.
And besides money and managing staff, leaders also identified working in the business, along with making strategic decisions, as being among the most stressful elements of leadership.
As a business and scaling-up coach, Ian has helped many owners and CEOs navigate choppy waters at work.
However, he said support methods – such as coaching – can be “game-changer” when it comes to dealing with work-related stress.
“Often just chatting to someone who has been in your shoes can help you through hard times,” added Ian, who was previously named European Coach of the Year.
“Coaching can be a game-changer both at work and at home, as stress doesn’t just stay in the office, and it can really help you cope. Used early on, it can help to direct your decision making so that you don’t encounter the problems that keep other business leaders awake at night.
“Almost 40 per cent of those polled said they had used it as a way of avoiding those very pitfalls, and if you worry about heading down those dark paths, coaching would be a great Christmas present to yourself and your business.”
For more information on Kinnery’s services, please visit www.kinnery.co.uk