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The mental health benefits of business ownership

Updated: Apr 11, 2023

Too much of the conversations regarding Veteran experiences are focused on what we term the 'broken' narrative.

Yes, Veterans have a range of health and social challenges as a direct result of their service to their country. And yes, more needs to be done to provide support.

But not every Veteran is broken. In fact, InnoClub firmly believes that unless more attention is placed on highlighting the positive outcomes the majority go on to lead upon transition from the ADF, there's a very real risk of only making conditions worse for at risk Veterans. Only ever hearing about the negatives can suggest that poor outcomes are inevitable.

It's why InnoClub is committed to celebrating the many successes that Veterans achieve, and there's no better example than in business ownership.

Ever since World War 1 Veterans Hudson Fysh, Fergus McMaster and Paul McGinness started a small airline called the Queensland and Northern Territory Air Service 103 years ago, Australians have been demonstrating that the unique skills and experiences gained in the military can have significant commercial application.

And despite the risks and pressure that can come with self employment, there are actually many mental health benefits that can be gained in running your own business.

Starting and running a business can offer a sense of purpose, autonomy, and community support that can positively impact mental health and well-being.

Here are some potential mental health benefits for Veterans who choose to start a business:

  1. Sense of Purpose: Running a business allows Veterans to pursue their passions and create something meaningful that aligns with their values. This can provide a sense of purpose and promote positive mental health outcomes.

  2. Autonomy: Being your own boss allows Veterans to have control over their schedule and work environment, which can reduce stress and improve overall mental health.

  3. Community Support: Starting a business can provide Veterans with a community of like-minded individuals who share their experiences and provide support. This can help reduce feelings of isolation and promote a sense of belonging.

  4. Opportunity for Growth: Overcoming challenges and building a successful business can promote resilience and coping skills, which can improve mental health outcomes.

Of course, it's important to note that starting and running a business can also be stressful and overwhelming, especially in the early stages. Veterans should practice self-care and seek support, not only in launching their own business, but particularly during the times when things inevitably get tough.

It's the reason that InnoClub exists. So if you have a business idea but don't know where to start in bringing it to life, or are already operating but finding the going tough, reach out to us.

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