Small Business Edge Newsletter

1) Signs of Founder Depression

2) How Small Businesses Use AI

3) Podcast Wisdom

Hello Friends and Fellow Business Owners,

Continuing our support for Mental Health Awareness Month, my word for this week is actually two words—Depression and Anxiety.

As business owners, we often carry the weight of multiple responsibilities—meeting deadlines, managing teams, and growing our companies. Sadly, the COVID pandemic brought a new layer of challenges for us, including a significant rise in workplace anxiety and depression.

According to the World Health Organization, the global prevalence of anxiety and depression increased by 25% in the first year of the pandemic. In the U.S., the CDC reports that over 40% of adults struggled with mental health issues during that time, with anxiety and depression being the most common.

The reality is that employees—and business owners—are not immune to these struggles. Depression can lead to decreased productivity, absenteeism, and low morale, while anxiety can result in difficulty focusing and decision-making. These issues, if left unaddressed, can severely impact both personal well-being and business performance.

There is no better time than TODAY to start an open dialogue about mental health in your workplace. As you look to renew your healthcare benefits for 2025, give serious consideration to either starting or increasing access to mental health benefits. Ask your employees what mental health benefits they might be interested in for next year.

An open dialogue will also have a positive impact on your company’s culture, making your business a place where people want to work and turn the ordinary into extraordinary. Make the investment today, because it’s the right thing to do, and you will see dividends for years to come.

Peace,

Brian

1. Signs of Founder Depression

Some studies have found incidents of depression might be more prevalent among the entrepreneur population than the general populace. One study found that 72% of the entrepreneurs surveyed reported mental health concerns (not just depression). Overall, entrepreneurs were 30% more likely to experience depression than members of the general population.

The article notes that founders may feel “physically and emotionally drained.” It’s also common to struggle to make decisions, experience disruptive sleep, and feel they’ve lost their “spark.”

If you have signs of depression, what should you do? Social support helps, but it is recommended that those who feel depressed seek professional help.

Learn more about founder depression. 

More about Depression and Small Business Owners

• Entrepreneur Depression: An Epidemic Nobody is Talking About
• How Depression Sabotages Entrepreneurs
• Entrepreneurs, Stress, and Depression

2. How Small Businesses Use AI

Many small business owners have embraced AI. But they have concerns about the impact AI could have on their companies. For example: Will AI increase productivity? Where in the company can AI have the most impact? How do they deploy it?

An AI expert at one of the nation’s biggest marketing companies says AI “is making the most significant impact on go-to-market teams across marketing, sales, and service.” She notes that AI-powered chatbots can provide 24/7 support for customer service and can handle a wide range of questions from consumers.

She notes that “growth-oriented companies are embracing AI.” Shouldn’t your company be implementing it as well?

Learn more about why AI is important to small businesses

3. Podcast Wisdom

Click HERE to listen to the podcast.