It’s no surprise that the ongoing COVID-19 pandemic has caused significant damage to the mental health of business owners; in more ways than one.
While the pandemic caused many businesses to take a tremendous financial hit, the emotional and psychological stresses that came along with the uncertainties of the journey, caused an equal, if not worse impact on the lives of Canadian business owners.
Data released by Statistics Canada showcased that while the retail sector experienced an 18 per cent fall in the total number of retail sales from February to May 2020, the total
number of retail e-commerce sales doubled.
While this can be seen as good news for the retail market, Statistics Canada reported that Canadians have experienced a great decline in mental health since the pandemic began.
Additionally, results from a survey conducted in November 2020 by the Business Development Bank of Canada (BDC), unveiled that two in five business owners reported feeling depressed at least once per week.
With this in mind, here are a few ways that entrepreneurs and business owners can recoup after the whirlwind year that was 2020 and prioritize their mental health in 2021.
Socialize Virtually
A series of studies conducted in 2020 by the Centre for Addiction and Mental Health (CAMH), revealed a pattern of fluctuating anxiety levels that Canadians faced last year, with the highest levels reported in the spring and late fall and symptoms of depression and loneliness remaining relatively stable throughout.
While the pandemic has forced most Canadians to stay indoors and minimize traditional socializing, it is important to stay connected with loved ones. Whether that includes planned or unplanned calls via FaceTime or Zoom, remember to check in on others and have them do the same to you.
Network, Network, Network
Networking has never been as easy as it is in the digital age. Try to set aside 30 minutes each day to focus on networking. Whether that be adding a new connection on LinkedIn, using the time to respond to comments on your business’ social pages or even trying out Bumble Bizz to meet new people in the industry, it’s important to continue making business connections.
Knowledge is Power
Have you been wanting to learn about social analytics for a while, but haven’t had the time? Now is that time. Enroll in a free course via edX or Coursera that can teach you beneficial tips that can later be applied to your business. Then, take what you’ve learned and execute a plan. Whether that’s a new social strategy or a reopening plan, remember that knowledge is power.
Listen to Your Body
It’s not always easy to stay motivated, especially during a pandemic that changed our daily routines. If you feel overworked or like your mind is overstimulated, pay attention and listen to your body. Take breaks as needed but make a schedule to hold yourself accountable in order to return to your business strategy and daily tasks.
Don’t Be So Hard on Yourself
Now, more than ever, it’s important not to compare your business to others. Everyone has a pandemic story and has been affected differently. Put your main focus into your business and use your energy to work towards bouncing back.
For more information on mental health, to seek help or find resources, visit cmha.ca or camh.ca.
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