Australia's minimum and award wage increase to impact 260,000 small businesses
Approximately 260,000 small business owners will need to make payroll adjustments due to an increase to minimum and award wages from 1 July 2023.
Sleep is one of the most important things contributing to your overall mental health, wellbeing and day-to-day functioning. However, sleep can be one of the first things impacted when we are feeling stressed.
Recently, small business owners may be feeling stress around the cost of living, increasing energy prices, minimum wage increases for employees, and working long hours to ensure the business can keep running. These pressures may prevent you from getting to sleep, or having a good night’s sleep, which can ultimately affect your mood and stress levels.
Good sleep habits can improve your concentration, reactions, memory, problem solving skills and much more, ultimately contributing to your ability to function and run your business more effectively. In fact, lack of sleep is one of the biggest challenges for small business owners who might be up late getting things done for work, unable to sleep because of thinking about work, or pushing back their bed time to make time to unwind. Recent research suggests sleep is also one of the top strategies small business owners use to manage their wellbeing. That’s why it is important to ensure you are doing what you can to improve the quality and amount of sleep you get.
Winter can be a great time to update your sleep habits. Your body will release melatonin when the sun is down causing you to feel sleepy, and the colder weather will help lower your temperature which helps your body initiate sleep. With these factors working in your favour, now is a great time to adjust some of your other sleep habits like sleep and wake times, bedtime routines and your sleeping environment. Start adjusting your sleep habits now so your sleep patterns are healthy moving into the warmer months ahead.
