- Survey finds that 42 percent of small business owners are experiencing burnout or have experienced it in the past month
- Six in 10 said they haven’t taken a week off for any reason since the start of the COVID-19 pandemic
- Respondents remain optimistic, with 63 percent expecting business conditions in their area to improve
Summary by Dirk Langeveld
About four out of 10 business owners have been enduring burnout due to the challenges created by the COVID-19 pandemic, according to a recent poll from Capital One Business and Morning Consult.
The survey of 1,000 small business owners found that 42 percent were experiencing burnout or had experienced it within the past month. The share jumped to 62 percent among minority business owners.
Close to half of the respondents said they had felt run down or drained or energy, or that running a business during the pandemic had had a negative impact on their mental well-being. Fifty-three percent considered burnout a barrier to their business success, while 35 percent said they could use external help or resources to help address it.
- Just over half of the respondents (52 percent) said they have not taken a vacation in the past year, and 60 percent said they have not taken a week off for any reason since the start of the pandemic
- 62 percent said they have worked longer hours during the pandemic
- About half of small business owners said that they’re constantly worried about state of their business finances, while just over a quarter said their work-life balance has suffered since the start of the pandemic
- Some small business owners have sought to bolster their workforce in response, with one in five identifying or planning to identify gaps in their staffing; 16 percent are delegating more responsibilities to their teams, while 13 percent are planning to hire additional workers
- Small business owners were still optimistic, with 63 percent expecting business conditions in their area to improve; 52 percent said they think their work-life balance will improve in the next six months