July 2022

Exploring the relationship between business performance and wellbeing

Welcome to the first ever BDO Wellbeing in Business Index report – BDO Te Rangahau o ngā hauora pai. This unique study explores the relationship between business performance and wellbeing among nearly 600 business leaders and owners surveyed across New Zealand.

How does your business’ performance impact your wellbeing?

Leading and owning a business has always come with both rewards and challenges. It can bring high levels of personal satisfaction, professional development and growth. It can also offer increased independence, lifestyle, flexibility and financial rewards. Yet, such roles also present challenges – many of which have potential to place your mental wellbeing at risk.

Over the past two years, BDO New Zealand, as advisers to more than 16,000 businesses of all shapes and sizes across Aotearoa, has witnessed the mental wellbeing of our business leaders being tested on an increasing scale.

While we’re certainly not wellbeing experts, we often observe the impacts that business performance – particularly financial concerns – can have on mental wellbeing among business leaders and owners, and we wanted to understand this relationship more closely so we can offer further support.

The inaugural BDO Wellbeing in Business Index report confirms that business financial concerns are a key driver of negative wellbeing for business leaders. Given this, our focus in the report has been to offer practical tips alongside our commentary – centring on the ways business leaders can maintain their business financial performance to minimise potential pressures on wellbeing.

Where to go for further support

We hope you find the BDO Wellbeing in Business Index useful. It’s often said that small and medium-sized enterprises are the backbone of New Zealand’s economy. However, at BDO, we acknowledge that it’s the people like you running these businesses who are the real heart of the business sector - and only through supporting your wellbeing can we help you achieve your dreams and drive sustainable economic growth for Aotearoa.

Most importantly, it’s never too soon or too late to reach out for help. Please lean on your trusted team - whānau, friends, colleagues and professional advisers - for the support you need in managing your wellbeing and business. You’ll find details of useful contacts below.