Member of BTG Global Advisory

My business is suffering due to depression/ill health

Question

Who can I turn to when my business is suffering due to depression and ill health?

Answer

If the stresses and strains of running a successful company have taken their toll on your physical or mental health, it might be time to step back and take a look at the bigger picture. Even a couple of days away from the business can provide more clarity, and help you decide on the best course of action.

The responsibilities inherent in the office of company director can be overwhelming at times, particularly when business starts to decline and anxiety mounts. So what can you do in a practical sense, to make sure that you and your business both start to thrive again?

Delegate some responsibility

It is easy to assume too much responsibility as director, but you cannot be responsible for every aspect of your business. Delegation is key to recovering both your health and enthusiasm for the job. It could allow you more time off, or simply lift a heavy burden from your shoulders.

Seek medical help

If you haven’t done so already, you need to seek help from a doctor for your illness or depression. Simply talking to someone who is not directly involved in your personal and business life can lift the anxiety you are feeling, and make the journey back to health much quicker and easier.

Get professional financial advice

If business cash flow is a problem at the moment, talk to an insolvency expert. It is probably just a temporary issue that can be rectified, but you need to know your options before you can act.

Begbies Traynor is the UK’s leading business rescue firm, and can make the difference to your entire outlook with positive recommendations for funding. We offer a free initial consultation, will identify the best solution for your business, and relieve some of the pressure you are under.

Advice You Can Trust

Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland
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