India’s startup ecosystem and business entrepreneurship scene may be flourishing, but it is coming at a cost.
In a report prepared by the likes of IIM Bengaluru, Tie Global and YourDOST, it was found that many entrepreneurs in the country feel stressed out.
While only 33 per cent struggle with low well-being, the stark reality is between the lines. Early-stage founders particularly reported higher stress levels and lower satisfaction. Imposter syndrome, which is a psychological condition where a professional feels like they are a fraud in the workplace, with serious self-doubt was seen to be affected 31 per cent of entrepreneurs.
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In fact, almost half, at 43 per cent, of early-career entrepreneurs admitted that they experienced lower satisfaction, reflecting the pressures and uncertainties of the early stages of the entrepreneurial journey.
An Assocham study last year had revealed that nearly seven in 10 Indian businessmen reported experiencing severe stress. Startup founder burnout contributes to nearly one-third of new venture failures, which only underscores the fact that understanding the emotional well-being of entrepreneurs has become critical to India’s startup success story.
Interestingly, women founders were found to be doing better than their male counterparts in work-life balance (58 per cent compared to 37 per cent) and emotional well-being (68 per cent compared to 55 per cent).
“Last year, India’s startup ecosystem injected a significant $140 billion, representing nearly 4 per cent of India's GDP. To continue on this incredible journey we are on, wellbeing becomes an important cog in the wheel of development,” said Richa Singh, Co Founder and CEO of YourDOST
“Understanding and supporting their mental health isn't just about individual wellbeing—it's about ensuring the sustainability of India's startup ecosystem,” she added.
The report assessed business professional well-being on 14 parameters, including stress management and burnout prevention, pressure on leadership decision-making, work-life balance as well as support system accessibility.
