Business
Small Biz Matters – #202 Providing the small business community with educational content and advocacy since 2014 with Alexi Boyd, broadcaster, advocate and small business owner. Date: 6 April 2021 Small Biz Matters is proud to announce our ongoing collaboration with the Australian Small Business and Family Enterprise Ombudsman through regular updates from Bruce Billson about all ASBFEO is doing to advocate and support small businesses. In the fifth of the series the new ombudsman Bruce Billson will update us about ASBFEO’s response to the crisis facing small business. This week we’re updating you on: Mental health statistics and what they mean for small business What about the My Business Health program and the New Access for Small Business Owners information from beyond blue? And why were they initiated? What does this program aim to achieve in the small business community and why this approach to deliver through a coaching program? Bruce Billson, as an independent advocate for small business owners, has the legislative power to influence our nation’s lawmakers, ensuring legislation and regulations are put in place to help small businesses grow and in these times, survive. Mental health statistics: - A recent Federal Government survey of more than 1000 small business owners revealed one in three had been diagnosed with stress, anxiety or depression. Financial concerns were the biggest contributor. - The Productivity Commission’s report into mental health found the cost of absenteeism and presenteeism to the sector is over $17 billion per year. That was prior to the pandemic! MYOB research revealed 56% of small business owners feel that running their business has directly brought on anxiety and depression. 48% of those small business owners reported their anxiety was largely caused by financial and cash flow concerns. My Business Health: - My Business Health was launched in 2019 in response to concerns that small business owners were under a great deal of stress due to the day-to-day grind of running a small business. - It was developed in consultation with EveryMind, Beyond Blue and small businesses. - The free web portal provides easy-to-read practical tips on managing a business, government support measures along with links to mental health resources from Australia’s leading mental health organisations. - Just recently, My Business Health has been redeveloped to improve the user experience and to fully integrate the web portal with Beyond Blue’s tailored mental health support service called New Access for Small Business Owners. New Access for Small Business Owners information: - A free, confidential mental health program developed by Beyond Blue to give small business owners then support they need. - Coaches with a small business background work with the small business owner over six sessions to provide practical skills to help manage stress. - The coach completes an initial assessment in the first appointment, to develop a tailored program - No doctor referral or mental health treatment plan is required – you don’t have to visit a doctor first. Why it was initiated – The initiative was jointly conceived by Beyond Blue and the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), responding to rising calls for a dedicated mental health support service for small business owners. Running a small business is a unique experience which often involves stress. If left unaddressed, these can be at risk of longer-last mental health challenges. Small business owners don’t necessarily have the time or the money to seek help and there is often limited availability of services during business hours and in convenient locations for the small business owner. We know that the normal day-to-day pressures for small business owners compounded for many during the COVID crisis. That’s why Beyond Blue is offering this program. What it aims to achieve – Importantly, NewAccess is designed to appeal to people who might not otherwise seek support for their mental health and to provide support early, preventing symptoms from potentially getting worse. The program avoids clinical language, does not require a doctor’s referral and is delivered by relatable coaches – in this case people who have owned their own small business – making it an ideal service for small business owners. To find out more go to their website: https://www.asbfeo.gov.au/ About our Guest: The Ombudsman - Bruce Billson Bruce Billson is the inaugural Australian Small Business and Family Enterprise Ombudsman (ASBFEO). As the ASBFEO, she is an independent advocate for small business owners. His office has the legislative powers needed to effectively influence our nation’s lawmakers, ensuring legislation and regulations are put in place to help small businesses grow. The ASBFEO office also provides small businesses and family enterprises with assistance should they find themselves involved in a business dispute. Small businesses are the engine room of the economy; it’s a big reputation to live up to, so we need to do all we can to ensure they have the freedom to innovate, employ and thrive well into the future. About ASBFEO Australia is a nation of small businesses and family enterprises. It’s a dynamic and exciting sector that allows people with an entrepreneurial spirit to pursue their dreams. One of the fastest growing in the economy, the sector presents many opportunities – and challenges – for those who dedicate themselves to pursuing a small business venture. The ASBFEO's role is to support small businesses and family enterprises to enable them to grow and thrive. The ASBFEO was launched on 11 March 2016 and has two key functions: to assist and to advocate for small businesses and family enterprises. ASSIST: We understand the challenges facing small business owners. We provide access to dispute resolution services for those who may be involved in a disagreement, so they can try and find a solution to their problem without having to go to court. ADVOCATE: There are a number of different activities the Ombudsman may conduct in fulfilling the role of small business advocate. Broadly these include: Conduct inquiries and research Work with other arms of government Contribute to other inquiries Promote good business practice.