Business owners not immune to mental health struggles: a new initiative aims to normalize reaching out for help

TORONTO, June 15, 2023 /CNW/ - Following recent survey results indicating stigma remains a key barrier for business owners in accessing mental health support, a new series, Unsinkable Entrepreneurs, is being launched to normalize the challenges business owners face and reduce the stigma associated with reaching out for help. This initiative is the result of a collaboration between Unsinkable, a national mental health charity founded by Olympian and entrepreneur Silken Laumann, and BDC—Canada's bank for entrepreneurs. 

"The truth was not something I wanted to see at the time, so I kept ignoring the warning signs from my body as my stress and drinking increased," recalled entrepreneur Rhiannon Rosalind, Founder of Conscious Economics and former CEO and owner of the Economic Club of Canada, in her story published on Unsinkable's storytelling website and social channels. "Pushing through exhaustion, hiding the pattern of financial chaos that I was continually trapped in, refusing to ask for help, and trying to fit in at all costs. This was how I survived."

Rosalind's story kicks off the initiative which will feature four Canadian entrepreneurs, each with their own unique story, who have struggled with their mental health and reached out for support. Each storyteller will share struggles that resonate with business owners and describe the positive impact of seeking mental health support, both for themselves and for their business.

"As Canada's bank for entrepreneurs, BDC is committed to supporting the mental health and well-being of entrepreneurs and acting as a catalyst for positive change," said Annie Marsolais, Chief Marketing Officer and Mental Health Advocate at BDC. "We know that entrepreneurs are struggling, with roughly one-third seeking professional support in the last year. However, many entrepreneurs still have a very difficult time reaching out for support, citing discomfort discussing the issue, fear of negative peer perceptions, and discrimination. That's why we've decided to collaborate with Unsinkable: to raise awareness on mental health challenges faced by business owners and how beneficial it can be to seek help."

"One of the most effective ways to cut through the stigma that exists around mental health is through the sharing of stories—which is at the heart of Unsinkable," added Laumann. "We're so fortunate to work with BDC on this important initiative and with prominent entrepreneurs like Rhiannon, who are willing to lead with their own stories to help others know that their personal mental health battles are shared experiences. When you understand you're not alone, it's easier to be vulnerable and seek the help you need."

A recent BDC survey revealed that 45% of entrepreneurs in Canada experienced mental health challenges in 2023, compared to 38% in 2022. The survey also showed a significant increase in the proportion of entrepreneurs who wanted to seek support from a mental health professional.

"I find Rhiannon's story so inspiring," said Marsolais. "Many entrepreneurs are struggling, and although 90% are open to support, they don't necessarily take that step to accessing it. BDC is proud to join forces with Unsinkable—by sharing these stories, we are working to break down stigma and help entrepreneurs build bridges between wanting support, reaching out for support, and getting the support they need."

BDC's support of Unsinkable Entrepreneurs is part of its goal to raise awareness of mental health issues among Canada's entrepreneurship ecosystem and provide support to business owners with advice and resources. The Bank also recently announced it will launch a pilot project in the fall of 2023 to provide its clients with easy access to virtual therapy.

To discover Rhiannon's full story, click here.

To find out more about BDC's latest study on entrepreneurs' mental health, or for articles and resources related to well-being, visit bdc.ca/wellbeing.

About Unsinkable

Unsinkable is a charitable organization founded in 2020 by Olympic hero and mental health advocate Silken Laumann. Unsinkable's mission is to use storytelling to help people #BridgetheGap between struggling with their mental health and taking steps toward mental well-being.

SOURCE Unsinkable

Media contact, Jennifer Elia, Executive Director, Unsinkable [email protected]