Financial pressure is one of the biggest sources of stress for people working in small business. Unpredictable income, cash flow and delayed payments are common experiences, and can put you at increased risk of poor mental and physical health, and family conflict. It is also often compounded by other aspects of running your own business, such as high work demands and longer hours.
For some, financial stress can also be a barrier to seeking help. You may feel like you can’t afford treatment, or that you are unable to take the time off work to get the help you need.
If you are feeling like you’re struggling to stay on top of things financially, there are ways you can protect yourself from the strain mentally as well as in your pocket.
Financial stress is a form of stress that can impact on you and your health. By focusing on self-care and prevention, not only will you alleviate some of the symptoms of financial stress, but you’ll be more resilient when pressure mounts.
Minimising financial stress will also help you work more efficiently during business hours and allows you to be present in your home life.
Information for small businesses facing financial difficulty.
A step by step guide to getting your business out of debt and your business finances back on track.
The ATO offers a range of options and services for small businesses facing financial difficulties.
There are several Australian Government payments that support businesses and employers in particular sectors to deliver services.
Financial guidance on managing debt, including support options available.
Financial support for small business owners.
Assistance in finding free financial counselling as well as other resources.