Directors who are suffering with anxiety and depression could well be causing problems for themselves as the state of their mental health affects their ability to do business.

Grimsby-based company rescue specialist and insolvency specialist Forbes Burton is urging directors and business owners to seek help before things get too overwhelming as more cases appear where matters are spiralling out of control.

A recent study by consultancy PwC has suggested that health and wellbeing has a significant impact on performance, with 83% of workers believing their wellbeing influenced how productive they were. Pressures such as dealing with customers and clients and long hours had the biggest impact on workplace wellbeing.

Managing Director at Forbes Burton, Rick Smith, said: “We have noticed a growing trend of enquiries from worried directors that they can no longer run their business because of ill health.

“However, what is most concerning is a more prevalent trend of mental health conditions among owners and directors, which often appear due to the strains and pressures of their job or situation.

“We are getting a large uptake of individuals operating limited company structures suffering from mental health problems. These can include serious cases of stress, anxiety and depression as their business responsibilities grow.

“Certain industries, commonly IT and some offshore roles, employ on a contract-only basis and insist that invoices are raised through a limited company. If the director, commonly the only person and employee in the business, falls ill, then there really is no other contingency in place.”

Rick adds that more clients are approaching Forbes Burton for help with large bills for corporation tax and VAT obligations which cannot be met.

He said: “It’s important to emphasise that it isn’t the end of the road. Dealing with the problem head on is often the first step towards recovery, in terms of both finance and health.

“If a director is being made unwell by the day-to-day pressure of running their company, they should seek professional help to work through their business problems.

“Many organisations, such as Mind, the mental health charity, exist exactly for this reason. Being able to tackle difficult trading conditions as well as your health can often put your mind at rest. Seek help sooner, rather than later would always be our advice.”

To arrange an appointment to talk about VAT or HMRC arrears, call Forbes Burton on 01472 254914 or email advice@forbesburton.com

To find out more about Forbes Burton, visit www.forbesburton.com