Old Mutual SMEgo has launched the 2025 Entrepreneur Mental Wellbeing Survey, a national initiative that puts the mental health of small business owners at the forefront. It’s a pioneering step toward quantifying a crisis that has long been whispered about but rarely measured.

This comes against a global backdrop where mental health struggles among entrepreneurs are alarmingly common. A 2015 Berkeley University study found that 72% of entrepreneurs experience mental health challenges, with nearly half diagnosed with a related condition. In South Africa, where small and medium-sized enterprises make up 90% of formal businesses, these stressors are magnified—but still largely unspoken.

“Entrepreneurs face relentless pressure without the safety nets of traditional employment,” says Nobesuthu Ndlovu, Director of SME at Old Mutual Corporate. “Mental well-being is just as critical as access to funding or financial literacy.”

According to the 2023 State of Entrepreneurship in South Africa survey by the Entrepreneurs’ Organisation (EO), 49.1% of local entrepreneurs reported a lack of funding, and 58.7% cited financial losses due to load shedding. These compounding stressors make burnout, anxiety, and depression all too common—yet many still suffer in silence.

The new SMEgo survey invites founders across sectors and stages to share their lived experiences. The goal? Building evidence to drive change. From more inclusive mental health resources to policy interventions that acknowledge the emotional toll of entrepreneurship, the findings could help build a healthier, more resilient business community.

Recent global data from the 2025 Founder Reports underscores the urgency. Among 227 founders surveyed, 87.7% reported at least one mental health issue, with anxiety affecting more than half and burnout impacting one in three. Here in South Africa, where the SME sector supports 80% of jobs, the stakes are even higher.

“Mental health challenges don’t just affect individuals. They threaten the survival of businesses that drive our economy,” says Ndlovu.

And the pressure is growing. The 2025 SME South Africa Outlook reports that entrepreneurs are grappling with inflation, rising interest rates, and persistent infrastructure challenges. When these realities meet the emotional weight of entrepreneurship, the risk of burnout increases sharply.

To help address this, Old Mutual SMEgo goes beyond surveys. Its award-winning digital platform offers funding tools, accounting support, and stress-reducing SaaS features that take the administrative load off founders. In 2024, SMEgo won a BCX Award for Best in Technology—recognition of its role in helping entrepreneurs focus on growth without losing sight of their own well-being.

Financial stress is a core factor in mental strain. The FinScope MSME South Africa 2024 report found that 15% of SME owners remain financially excluded, making them more vulnerable to long-term instability. These gaps reinforce the need for emotional support structures as much as economic ones.

The new survey could be the first real step toward closing both.

“The failure rate of SMEs remains high, and mental health is a hidden contributor,” Ndlovu explains. “By listening to entrepreneurs, we can design support that meets their reality—not just their business plan.”

Participation is open now at www.smego.co.za, where users can access the full survey along with business tools, financial education, and support services. With South Africa’s economy projected to grow by just 1.5% this year, entrepreneur resilience is more crucial than ever.

This is more than a questionnaire. It’s an invitation to build a culture where success includes well-being—and where support systems finally catch up to the realities of modern entrepreneurship.