How coping with Covid boosted business confidence

Three-quarters of UK business leaders say that the way their business was able to adapt during the pandemic has boosted their confidence.

This is according to a new report from Capitalise, a platform that gives small businesses and their advisers transparency and control over their business finance all in one place.

The report, titled Get Fit for Business, commissioned independent research company Censuswide to poll 500 UK-based small business decision-makers in December. The report  tracks how business leaders are coping mentally and physically, and also how their professional and personal relationships and financial numbers are shaping up.

One of the top line results from the first chapter of the report, ‘Healthy People’, highlighted that despite feeling resurgent, business leaders have had a hard time personally when dealing with the pandemic. In fact, three quarters revealed that they have hidden stress from their team over the last two years.

The second chapter, which delved into how business and personal relationships are holding up, revealed that work pressures have been having a negative impact on personal relationships for 59 per cent of business leaders. Also, 58 per cent are planning to engage with a business mentor in 2022.

The final chapter, ‘Healthy numbers’, analysed the financial health of businesses. It revealed that 38 per cent of business leaders wanted to better understand their financial health, and 58 per cent need help understanding business finance.

Interestingly, a significant 78 per cent also said that they had increased investment in the health and wellbeing of their team, because they believe it makes for a happier and more productive workforce.

However, 76 per cent said they are not eating healthily enough, and 71 per cent said they feel less physically fit after working from home in recent years.

I am pleased to see the biggest priority for small business leaders remains expansion and growth, crucial for jobs in local areas, and the economy

Paul Surtees, CEO and Co-Founder of Capitalise said: “The past few years have been tough for small businesses, as lockdowns and an ever-changing business environment has left business owners feeling exhausted.

“That’s why now, more than ever, business leaders need help, whether mentally, physically, or via external support such as from their accountant, a coach and a platform like Capitalise.

“Capitalise can help small businesses discover a healthier way to do business in 2022. We’ve got a complete programme of hard hitting research, wellness videos and all the insights, support and tips you need to get financially, physically and mentally get fit for business.”

Commenting on the findings, Minister for Small Business, Paul Scully MP, said: “Small businesses, operating under difficult circumstances, have performed incredibly well during the past two years. I am pleased to see the biggest priority for small business leaders remains expansion and growth, crucial for jobs in local areas, and the economy.

“I am also encouraged to see more focus on staff wellbeing. This ensures a healthier and more productive workforce, who are the backbone of the British economy.”

Derrick Evans, TV’s Mr Motivator who advised on this report, said: “Getting up and being active is the first step to a healthier lifestyle and positive mental outlook, but often that first step can be the hardest.

“Leaders of busy businesses are regularly strapped for time and energy, but even just standing up and sitting down every hour is enough to get your blood circulating. Sometimes a few minutes of deep breathing between meetings is all it takes to focus your thoughts.

“Just like how business leaders demonstrate care for their employees, and bravery in boardrooms, they need to start taking care of themselves. Business leaders: check in with your people but also check in with yourself. Pick up the phone just to ask someone how they’re doing and if they ask you the same question, be honest in your answer. Getting fit for business is a team sport.”

More on the report here