According to a new study by Capital on Tap, nearly one-third (32%) of small business owners say that they’ve had to make uncomfortable and difficult decisions in their personal lives for the success of their business.

With this in mind, the survey has delved deeper into some of the other sacrifices that small business owners have to make. The research has also explored the importance of self-care among entrepreneurs, and the team has provided some top tips for maintaining a healthy work-life balance. 

Eight-nine percent of successful small business owners say they include some form of self-care in their daily routine

Given the toll that running a company can take on someone’s mental and physical health, it’s vital that small business owners take time for self-care. Two-fifths (39%) of those surveyed think it’s important to make time for self-care each day, and 89% of successful business owners include some sort of wellness in their daily routine. 

The most common self-care activities among successful entrepreneurs include simple habits like taking a shower (99%), healthy eating (93%), and going for a walk outside (92%). Other popular types of wellness among those surveyed include skincare (85%), reading a book (66%), and listening to a podcast (66%). Another form of self-care is manifestation, with a quarter (24%) of business owners stating they believe this got them where they are today.

One in three small business owners say their mental health has suffered because of their work

The number one sacrifice for small business owners is having to miss events with friends or family, with 36% of those surveyed saying they’ve had to skip important moments before. 

Unfortunately, long-term stress can also have a big impact on our mental well-being, and 34% of those surveyed say that their mental health has suffered because of the time and energy spent on their business. 

Expert reveals top tips for maintaining a healthy work-life balance 

David Luck, CEO at Capital on Tap, says: “It’s so easy to get caught up in the chaos of running a small business, but no matter how busy life gets, you need to make sure you take care of yourself, and factor in time for the things you love. Thankfully, there are a few simple steps you can take to help maintain a good work-life balance:

“Set expectations for yourself

“We only have a certain amount of hours in the day and it’s easy to get caught up in thinking we can get more done than is physically possible. Having a daily routine to stick to should help you manage your time though. Try to factor in starting and finishing at a normal time, make sure you take a lunch break, allow for a little flexibility, and then set out what you think you can actually accomplish in a day. 

“Delegate where possible

“Try not to fall into the trap of doing everything yourself. If you are able to delegate certain tasks, whether that be within your company or through outsourcing, this will free up some time for you to focus on other aspects of your life. 

“Automating some of your processes can also be a good way to save yourself some time, for instance applying for a business credit card can help you streamline some of your financial processes and take the stress out of your accounting tasks. 

“Protect your free time

“Set clear boundaries for yourself, and make sure to protect your evenings and weekends where possible. The first step is often switching off the devices for a little while and giving yourself that time to recharge.

“Don’t give in to social media pressures

“Don’t get too caught up in comparing yourself to others. Social media is full of people celebrating wins and successes, and while this is great, what you don’t tend to see are the trials and tribulations that this company has faced along the way. 

“Keep the focus on you

“Although there will be plenty of other distractions, try to focus on your own business and your own goals, and remember that success will look different for everyone.”