As Mental Health Awareness Month begins, it’s important to look at the wider impact of starting a business and to appreciate that there are sometimes significant challenges to both physical and mental health for entepreneurs. We don’t share this information to put you off – but forewarned is forearmed and understanding the challenges that may lie ahead can be a big part of preventing it from becoming an issue.
A 2023 survey by Founder Reports found that 87.7% of entrepreneurs report struggling with at least one mental health challenge. These range from anxiety and burnout to depression, insomnia, and even suicidal thoughts. That number should be a wake-up call. It’s not a fringe issue – it’s the norm.
Further research reinforces the severity of the problem. According to a study reported by Forbes, 72% of entrepreneurs are directly or indirectly affected by mental health issues, compared to just 48% of non-entrepreneurs. Lifehack Method’s recent analysis reveals that 42% of founders have experienced burnout in the past month alone, and 24% are currently experiencing it. Meanwhile, anxiety affects over half of founders, with burnout impacting roughly one in three (Founder Reports, 2023). In short – it’s clear to see that if you find yourself struggling with any mental health issues then you are not alone.
What’s causing this? Entrepreneurship puts individuals under pressure that most people rarely encounter. The workload is relentless, the responsibility is intense, and the stakes often feel existential. Founders are not just managing businesses — they’re managing risk, relationships, reputation, and revenue, often with little safety net and no clear roadmap. Isolation is a huge factor: many entrepreneurs work alone or lead small teams, cut off from peer support or empathetic colleagues. Financial instability, decision fatigue, long hours, and the constant expectation to present confidence and positivity only add to the strain.
Yet despite these pressures, there’s often a cultural narrative that suggests founders should “push through,” “grind harder,” or even view suffering as a rite of passage. This mentality doesn’t just discourage vulnerability — it actively punishes it. That’s a problem, and it needs to change. Don’t believe social media posts that suggest you should keep digging and that the treasure is just a few more swings of the pick axe away – sometimes it’s valid to feel a bit lost and to seek help for those feelings.
Because mental health isn’t a side issue. It’s foundational. Your state of mind affects every decision you make, every relationship you manage, and every product you launch. A business is only as strong as the person leading it — and if the founder burns out, the business suffers.
So what can entrepreneurs do to safeguard their mental health?
First, reframe wellbeing as a business priority. Looking after your mind isn’t a luxury or a weakness — it’s risk management. You are your company’s most valuable asset. You wouldn’t run a machine without maintenance; why treat yourself differently? Prioritise times of self-care and possibly treatments that allow you to stop and recharge. If that’s not within budget then even a walk and talk with a friend can be just as renewing.
Set boundaries around your time and energy. It’s easy to let the business bleed into every hour of your life, but you need protected time to decompress, reconnect, and rest. Decide what your working hours are — and stick to them. Turn off notifications after a certain time. Use a different phone for work if you can.
Create a support network that isn’t tied to your business outcomes. Whether that’s friends, mentors, peer groups, or a therapist, having someone you can speak honestly with — without having to sell or spin — is vital. A 2019 study published in the Harvard Business Review found that entrepreneurs with strong social support reported significantly lower levels of stress and better long-term performance.
Routine matters, too. Physical health and mental health are linked, so don’t ignore the basics. Regular exercise, decent sleep, and proper nutrition are often the first things to go when you’re under pressure, but they’re also the foundation for resilience and clear thinking.
Delegation is another crucial skill. Many entrepreneurs get trapped in the belief that they must do everything themselves. They overwork, not because there’s no help available, but because they don’t trust others to deliver. Delegating — and letting go of perfection — is one of the most practical ways to protect your bandwidth and mental clarity.
Importantly, know the signs of burnout. These might include constant fatigue, irritability, detachment from your business, difficulty sleeping, or a sense of hopelessness. Burnout isn’t just about feeling tired — it’s a chronic stress response that needs to be taken seriously. If you recognise the signs early, you can step back before it becomes destructive.
Finally, open the conversation. Normalising talk about mental health in entrepreneurial spaces helps others speak up too. It builds better networks, stronger communities, and more sustainable businesses.
At Kosmos Innovation Center, we believe that entrepreneurship should be a force for personal and community growth — not a source of silent suffering. As we support innovation and enterprise across Africa, we also recognise the importance of nurturing the people behind those ventures. Mental health is not separate from business. It is business. Let’s treat it that way.
