Entrepreneur surveyed 500 small business owners across the country to ask how they’re feeling about their business.
Here’s what we heard: 61% said they’re feeling stressed — and 56% of those stressed-out owners said they’re losing sleep because of it.
How much less? The average was 7 hours — though 20% of the group said it was only 3 to 4 hours per week. Millennials owners are losing the most sleep, at an average of 7.5 hours a week, and men are losing slightly more sleep than women (7.3 hours versus 6.9 hours).
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What’s stressing them out?
In a word — money.
Nearly half of respondents (47%) said they’ve experienced a cash shortfall this year. To make up the difference, 46% dug into their personal savings, while 30% stopped paying themselves.
About half of respondents said their business is trending downward. Unless their circumstances change, they said, the average owner believed they could last 11.9 months before needing to close — and 20% of them said they’d need to close within three to four months.
Of the top threats they see, inflation is number one (at 53%), followed by rising operations costs (43%) and economic uncertainty (41%). In response to inflation, 51% of owners have cut nonessential spending, and 38% said they’ve raised their prices.
Related: Here’s How I Drove My Company’s Revenue By Taking One Often-Overlooked Step
But there’s room for optimism
It’s not all bad news: 51% of small business owners said their business is doing better than in 2023, and most owners (84%) are optimistic that 2025 will be even better.
That optimism wasn’t as evenly shared across political divides, however: 63% of Democrats believed the economy would improve over the next year, versus just 49% of Republicans and 39% of Independents.
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If you’re sleepless and stressed…
If you’re losing sleep like the business owners we surveyed, please heed this warning: If you don’t address your stress, it’ll only get worse.
Stress floods your body with hormones that disrupt your sleep — and if you sleep poorly, those hormones won’t break down, and you’ll get even more of them. It becomes a vicious cycle, according to Johns Hopkins sleep expert Luis F. Buenaver, Ph.D., C.B.S.M.
Experts suggest finding relaxation activities that work for you and building habits with them. These can include gentle breathing techniques, meditation, or movement techniques like yoga, tai chi and qigong.
Entrepreneur‘s survey of 500 small business owners was conducted in partnership with Talker Research in August. For the full results of our survey, click here.
Related: Small Business Owners Are Watching the Election — But They’re Deeply Skeptical
