Being a mature age business owner comes with its own unique set of challenges. You have the experience and knowledge that comes with age but at the same time, you might find yourself facing different stressors that may affect your mental wellbeing. It’s important to recognise these stressors and work towards managing them to ensure that your business and personal life can thrive.
One strategy to manage stress as a mature age business owner is to take advantage of the mature age exemption. This exemption provides mature age workers with a reduced rate of income tax. This can be especially helpful for business owners who are concerned about their financial stability and can help alleviate some financial stressors.
Another strategy is to establish clear boundaries between work and personal life. It can be easy to let your work consume your entire life but this can lead to burnout and negatively impact your mental wellbeing. As a mature age business owner, it’s important to recognise that your personal life is just as important as your business. Take time for yourself and your loved ones, engage in activities that give you joy and fulfilment, and set clear work hours.
Regular exercise is also a valuable stress management tool. Physical activity can help reduce stress levels, improve mood, and increase cognitive function. As a mature age business owner, it can be easy to neglect physical activity due to time constraints and other stressors. However, incorporating exercise into your routine can help you better manage stress and improve your overall health.
Meditation and mindfulness practices can also be effective in managing stress as a mature age business owner. Mindfulness practices, in particular, have been shown to positively alter brain function and can help reduce feelings of stress and anxiety. Taking even just a few minutes each day for meditation and relaxation can have a big impact on your overall wellbeing.
Another strategy for managing stress as a mature age business owner is to seek support from peers and professionals. The challenges of running a business can be daunting but you don’t have to go it alone. Joining a peer group or seeking help from a mentor can provide valuable insights and support. Additionally, seeking professional counselling or therapy can be helpful in managing stress and improving mental wellbeing.
In conclusion, as a mature age business owner, it’s essential to recognise and manage stress in a healthy and effective way. Utilising the mature age exemption, establishing clear boundaries between work and personal life, engaging in regular exercise, practicing mindfulness, and seeking support from peers and professionals are all strategies that can help you manage stress and maintain your mental wellbeing. By implementing these strategies, you can create a thriving business and live a fulfilling life.
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