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Health and Wellbeing of Small businesses and employees MUST be a priority for Mayoral candidates in 2020

Health and wellbeing amongst small businesses is key priority for going into the new decade according to new data by the Federation of Small Businesses (FSB) London Region.

According to fresh data released by FSB London, almost all (97%) of small businesses said that wellbeing is ‘important’ to the success of their business

With just over half (53%) of small businesses with staff offering support services for their ongoing wellbeing, small businesses are demanding support during these uncertain economic conditions.

Many small businesses are simply unaware of London initiatives to support Wellbeing with nearly 7 in 10 (69%) having not heard of either the London Growth Hub or the Mayor’s Good Work Standard.

London’s 1.083 million self-employed, micro and small businesses, that make up 99.3% of all private sector businesses, turnover £500billion cumulatively and employ 2.3 million people that make-up 41% of the total private sector workforce in the capital.

Running a small business can be a lonely experience for many, so FSB is calling for business support at London and local authority level to be focussed on supporting small employers and the self-employed with their wellbeing in 2020.

FSB hosts a Small Business hub which provides practical advice for business on mental health and general wellbeing – it provides businesses with ideas and suggestions to help improve their own wellbeing or the wellbeing of their staff. 

Michael Lassman, London Regional Chair, Federation of Small Businesses, said:

“I have attended a vast amount of networking groups in 2019 and a clear message from a significant number of business owners that I speak too is how isolating at times it can feel.  We must support the self-employed, employers and employees within small businesses to be best prepared with tools to support their physical and mental wellbeing – this will provide significant benefits to the London economy”

Schnell Hanson, FSB member of London Wellbeing Special Interest Group, said:

"Wellness at work is something that all small businesses should think about.  If you are an employer who is only looking at the physical aspect of wellness, you are missing key motivators in your employees’ health.  Wellness accounts for all ways in which an employees’ health could be affected and it is vital that employers should take into account the mental, financial and social sides of their wellbeing”

FSB Surveyed 202 small businesses between 14th October 2019 and 3rd December 2019

About FSB

As experts in business, FSB offers members a wide range of vital business services, including advice, financial expertise, support and a powerful voice in Government. Its aim is to help smaller businesses achieve their ambitions. More information is available at www.fsb.org.uk. You can follow us on twitter @fsb_policy.

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