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The Institute of Public Accountants (IPA) has confirmed a grant from the National Health and Medical Research Council (NHMRC) as it attempts to improve the mental health of small business owners.
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IPA receives mental health research grant
23 December 2019
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The institute will receive a research grant of $559,073, aimed to help small business owners with the pressures of running their organisations.
IPA chief executive officer Andrew Conway said the partnership with Beyond Blue, Mental Health First Aid Australia, WorkSafe Victoria and Deakin University was the first of its kind.
“Through our Australian Small Business White Paper development, we have heralded the fact that the mental health of small business is a significant issue in Australia, and we are intent on doing what we can to arrest the tide of growing health concerns.”
The institute noted many small business owners are battling with depression and anxiety, with their stories being ignored.
“Our nationwide small business roadshow in 2017 provided many anecdotes of small businesses battling with depression, anxiety and other issues; too many stories to ignore,” Mr Conway explained.
The IPA’s research comes after a report by the Canadian Mental Health Association and Business Development Bank of Canada found 62 per cent of business owners feel depressed at least once a week.
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Another 46 per cent of recipients experience low mood or felt mentality fatigued while mental issues affected their abilities to work 46 per cent of the time.
While a Canadian study, the figures revealed the pressures small businesses around the world are facing.
“Our members are very often the first to see the struggle signs within their clients, and therefore, we would like to see our members better equipped to support their clients and themselves through mental health first aid training,” Mr Conway said.
“They need to be skilled appropriately, to have those early conversations and point the way to the health professional that is required.”
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