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The Hidden Challenges of Entrepreneurship

Statistics

​Common Mental Health Struggles

  • ​​​​​​"Entrepreneurs are 2x more likely to suffer from suicidal thoughts" (Link). 

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  • "72% of entrepreneurs report work-related stress affecting their mental health" (Link). 

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  • ​"49% of entrepreneurs report dealing with anxiety" (Link). 

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  • ​"26.9% of entrepreneurs struggle with loneliness and isolation" (Link).

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  • "21.6% of entrepreneurs experience insomnia or other sleep disorders" (Link).

Prevalence of Mental Health Issues in Entrepreneurs

  • ​​"In the US, 87.7% of entrepreneurs struggle with at least one mental health issue" (Link).

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  • Entrepreneurs are more likely to experience depression (30% vs. 15-16%), ADHD (29% vs. 5%), addiction (12% vs. 4-8%), and bipolar disorder (11% vs. 1-4%) compared to the general population" (Link). ​

Lack of Awareness and Access to Resources

  • "67% of entrepreneurs report not knowing where to seek professional mental health support" (Link). 

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  • "72% of entrepreneurs cite cost as the primary barrier to accessing mental health resources" (Link).

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  • "Only 48% of entrepreneurs have access to mental health insurance or resources" (Link).

And Yet... 

  • "Small businesses account for 62.7% of net jobs created since 1995" (Link).​​

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  • "Small businesses have created 2 out of every 3 jobs over the past 25 years" (Link).

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  • "For small businesses that offer health insurance, premiums can be a substantial part of their operating costs, with a growing number of small employers (65%) citing cost as the primary reason for not offering coverage. Health insurance premiums are becoming an increasingly larger share of operating expenses, particularly for small employers with lower revenues, emphasizing the financial strain on small businesses" (Link).

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  • "Health insurance is one of the main benefits employees look for when considering a firm’s compensation package. Offering robust health insurance is an important recruitment and retention tool for employers, especially considering the high level of employee attrition in 2021 and 2022.2 In 2020, 163 million nonelderly Americans, or 60 percent of the nonelderly population, were covered by employer-sponsored insurance (ESI)" (Link).

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  • Rising healthcare costs are leading small businesses to hire more independent contractors, increase employee contributions, switch to plans with limited coverage, cut benefits, drop health coverage entirely, raise prices, and reduce wage increases.

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