NAB is launching a new wellbeing program dedicated to supporting Australian business owners after its latest research has found that more than four in every 10 people working in small business are currently feeling ‘highly anxious’.

The NAB Wellbeing Survey, which surveyed over 750 businesses across Australia, also found one in three small business owners are feeling ‘lonely’ and one in five are ‘not coping well’.

Ana Marinkovic, NAB’s Executive for Small Business said; “We’ve known for some time that small business owners have been under stress. This has been amplified during COVID-19 when many business owners have had to scale back operations or pivot to entirely different business models to keep their business alive.

“When we speak to our customers, they tell us running a small business is an all-encompassing job. Entrepreneurship doesn’t finish at 5pm and in order to be successful, business owners need to invest just as much time in their own wellbeing as they do in their company.”

In response, NAB is launching NAB Business Fit, an online platform that brings together a range of support resources such as virtual workshops, webinars, podcasts, live wellbeing classes and articles on everything from staying physically fit and well to practical leadership skills.

Small business owner, Janina Lear who runs the Piccadilly General Store has trialled NAB’s Business Fit, she said: “I think a lot of people go into small business not really understanding how draining it will be on you. It’s a lonely journey and it’s the mental and emotional state that is what often suffers the most.

“The Business Fit program is all about your wellbeing, mental health and resilience, so I think it will be helpful for so many entrepreneurs out there.”

The holistic resilience and personal wellbeing program will be updated monthly with new content for customers to work through. Upcoming features include podcasts with former international cricketer and current Australian Team coach Justin Langer on resilience and Lisa Messenger, an Australian entrepreneur and author, on her own personal experience of running a small business.

Business owners and their teams can register to access NAB’s BusinessFit at: www.nab.com.au/businessfit

Today’s announcement is in addition to the range of support measures NAB is already providing for customers dealing with the impact of the pandemic:

• Business customers experiencing financial difficulty can speak to their banker about deferring their payments on a range of floating and variable rate business loans.
• Complimentary psychological support and financial coaching.
• Free courses to help customers get their business online.