41% of business owners are stressed

FORTY-ONE per cent of business owners are suffering from increased stress and it is likely to get worse.

More demanding customers, increased competition and inadequate family time are contributing factors.

Business owners are much more stressed than last year, according to initial research from Grant Thornton’s 2005 International Business Owners Survey. This compares with the EU average of 35% and the global average of 39%.

The most common reasons cited for contributing to stress were:

* More demanding customers (39%).

* Increased competition (32%).

* Lack of time with family and friends (27%).

* Cashflow within the business/increased pressure on profit margins (26%).

* Regulations/red tape (23%).

The survey also found that keeping up with technological developments/innovations was of far less concern at 11% than it is globally (24%).

Only 3% of Irish respondents cite terrorism as increasing their stress levels.

Even with the growing pressures of business, just 7% went for medical advice for stress-related illness in the past year.

Grant Thornton human resources director Annemarie Wade warned the rising stress phenomenon is likely to get worse. Pressures associated with red tape, customer expectations and maintaining a healthy work/life balance are all likely to become more acute in the future.

On the plus side, she said the vast majority of stress is treatable and manageable. But those at the cutting edge have to learn to recognise the symptoms of stress.

By careful planning and management, people can create lifestyles that resist the onset of unhealthy work pressure.

Top of the stress table are business owners in Taiwan, where a staggering 69% (more than two out of three) of those questioned said their stress levels had increased or increased significantly in just one year.

Hong Kong, Mexico and Turkey were up at 54%, with India on a figure of (53%), along with the Philippines. Japan and Russia were (51%) and South Africa (50%) were very high, where half or more of those surveyed said their stress levels had gone up.

Across the globe, business owners in every country reported stress levels up in 2004.

Sweden is the low-stress country of the world, the check found.

Only 23% claimed their stress levels had gone up, against Netherlands (25%) and Canada (26%).

Business owners in Mexico (30%) are most likely to seek medical advice for stress while those in Sweden (4%) are least likely.

Increasing stress is a worldwide phenomenon in the business community, said Ms Wade. Business people are feeling the strain much more in 2005 she said.