A new pilot program has been launched by the Business Development Bank of Canada (BDC), the country’s bank for entrepreneurs, for entrepreneurs to help them deal with their declining mental health,
Sandra Odendahl
“We’ve heard loud and clear that entrepreneurs need more mental health support. Today, we’re acting on their need for help. We’ve always been there to help their businesses grow, and now we’ll also make it easy for entrepreneurs to connect to services that help enhance their well-being,” said Sandra Odendahl, Senior Vice President and Head, Sustainability, Diversity and Partnerships at BDC.
The BDC said that in the program’s pilot phase, on a limited first-come-first-served basis, it will provide up to 550 clients with three hours of free virtual therapy through GreenShield Health, the health services division of GreenShield, a not-for-profit health and benefits company. By accessing the mental health offering and personalized matching tool, entrepreneurs will be able to easily connect with the therapist best suited to their needs. BDC’s program will also enable clients to continue receiving care at a discounted rate once their three free hours are used, it said.
“We know that entrepreneurs face unique challenges that can create mental health issues. They are under a lot of pressure and are not always prone to prioritize their health or to ask for help. We want to be an ally and help make it easy to find that help,” said Sandra Odendahl. “As a development bank, we want to make mental health support more accessible and affordable for people who own or manage small and medium-sized businesses. Ultimately, our aim is to pave the way for a healthier and more sustainable business ecosystem.”
BDC said the pilot program was prompted by a BDC survey that revealed cost as entrepreneurs’ most significant barrier to seeking mental health support, followed by social discomfort, access, and limited awareness. BDC aims to help address these obstacles by offering a platform that is available anytime, anywhere, and providing support that is completely confidential.
The need for better access to mental health support in Canada is clear. BDC’s research indicates entrepreneurs’ mental health has been declining over the past three years. In BDC’s last survey, close to half (45%) of Canadian business owners reported mental health challenges, naming inflation and work-life balance as their main stress factors, added BDC.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list
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