The stress level among Flemish entrepreneurs is once again peaking, after slightly decreasing last year, according to a survey by HR services group Liantis.
In 2022, 69.1% of business owners indicated that they 'regularly' to 'almost always' experience stress, an assessment of 1,061 entrepreneurs at the start of this month has shown. Meanwhile, 68% also experienced fatigue on a regular basis.
"Rising raw material prices, material shortages and staffing problems, among other things, cause this additional stress," said expert Karel Van den Eynde.
Six out of ten business owners reported feeling like "it was all too much," regularly or almost always. The survey showed that it is mainly young entrepreneurs who are currently reporting stress, as among 18- to 30-year-olds, no less than 88.9% indicated feeling so, high above the average of 69.1%.
Rollercoaster of emotion
In the pandemic year of 2020, 75.9% reported that they were regularly or almost always stressed, however, after this crisis year, entrepreneurs again reported fewer psychosocial problems, as the number dropped to 58.8%. Now it is once again peaking at 69.1%, which according to Van den Eynde, is not surprising.
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"Currently, entrepreneurs are once again experiencing a very difficult situation. Moreover, they had hoped to be able to go full steam ahead again after the Covid-19 crisis, but due to the current problems, this is not possible. And that creates a huge sense of despondency," he said.
Chronic staff shortages
In most cases, the deterioration of the psychosocial well-being of entrepreneurs is caused by the major staffing problems.
"Entrepreneurs who indicate that they are struggling with a staff shortage say that they experience stress regularly to almost always (76.6%). Not finding enough staff therefore really causes headaches," Van den Eynde explained.
He added that this results in them having to work harder themselves to compensate for the staff shortage, and "that causes great fatigue."
Even when business owners do find the necessary staff members, they face concerns of rising labour costs, which sometimes makes them hesitate to take the step of hiring. "In short: the 'war for talent' is real and causes a lot of additional stress for entrepreneurs."
Liantis stressed the importance of entepreneurs discussing these psychosocial problem among themselves.
"We notice that entrepreneurs do not come forward easily with problems such as insomnia, fatigue and stress. Psychosocial well-being is still too often a taboo subject while talking about it can certainly help," said Van den Eynde.
