Director’s Health Causing Problems for Small Companies as Anxiety & Depression take their Toll

The majority of limited companies registered in the UK are small. In fact, they are very small; usually managed and operated by the directors themselves. So what if the directors fall ill?

We have noticed a growing trend of enquiries from worried directors that they can no longer run their business because of ill health.

Perhaps they have suffered an injury, been struck down by illness, or a more current and recognised reason (thankfully) is that they are suffering from a mental health condition; often a result of the strains and pressures of their job or situation.

Rick Smith, managing director at Forbes Burton said “we are getting a large uptake of individuals operating a LTD company structure who are suffering from mental health problems; breakdowns, anxiety and depression being the most common”.

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

Of the liabilities involved, Rick went on to add “Usually clients approach us with large CT and VAT obligations which cannot be met, so we sit down and work the problem through with them. It is certainly not the end of the road, and dealing with the problem is often the first step towards their own recovery.”

Directors can find out more about what they can do if their company is struggling by downloading our free guide.

Free Guide For Stressed Directors

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 and if necessary contact their GP.