New research from American Express reveals that 47 per cent of Australian small-business owners say their mental health and wellbeing have suffered through not being able to take time off for a holiday during the pandemic.
Hammering down the importance of having time off, the Business Class research, which surveyed over 500 small-business leaders, also reveals that 77 per cent of small-business owners say that personal travel positively impacts their outlook and ability to run their business. In addition, 63 per cent say that personal travel helps them make better business decisions, while 66 per cent feel rejuvenated after a holiday and consequently take fewer sick days off work.
As a result of taking time off, 53 per cent say that they feel more productive or inspired, 72 per cent believe they bring fresher thinking to their business, which helps them innovate and grow, and 26 per cent cite increased creativity.
With travel restrictions within and outside Australia loosening, 87 per cent of the small-business leaders surveyed have already planned at least one domestic holiday this year or next, with 68 per cent planning for an international trip.
“Taking a holiday is one of the few ways small-business owners admit that they can fully switch off from the pressures of running a small business,” Kiely Potter, Vice President of SME Account Development at American Express, said of the survey’s findings.
“With personal travel back on the agenda, taking a holiday is critical in helping to replenish small-business owners’ sense of wellbeing and productivity, and offers a fresh perspective they can inject back into their business,” Potter added. “Supporting small businesses to be at their best is a key component to reinvigorating our economy and communities.”
Dan Gregory, behavioural researcher and strategist, and Founder of The Behaviour Report said, “Taking a break is vital for mental health and wellbeing and sadly this isn’t something Aussie small-business owners have generally been able to do over the last few years.
“While some small-business owners may think there’s too much on their plate to step away at the moment, they should consider taking a trip, not only for their own wellbeing, but for the business benefits that will come from the time off,” Gregory added. “When thinking about the drivers that move us and lift us, travel helps us relax and detach; it stimulates our senses in new ways, allows us to connect and, just as importantly, to separate ourselves physically and emotionally from the day-to-day grind of our work. This puts small-business owners in a better frame of mind when they return to work, helping them to spot opportunities, tackle challenges with a fresh perspective and be better set up for success.
“Small-business owners are definitely aware of what they’ve missed by not taking a holiday: the loss of connection and inspiration and the effects this has had on their mental wellbeing and outlook towards their business,” Gregory continued. “There’s something in Australians’ nature that drives us at a cultural level to travel and explore to make us the best versions of ourselves. Even increasing costs, rolling delays and cancellations seem preferable to the idea of not travelling at all.”
