While the pandemic has highlighted a number of issues related to psychological distress, a topic that is increasingly present in the public discourse, 90% of Canadian business owners now say they are open to seeking support for a mental health issue. These are the findings of the Survey on SME owners’ mental health, recently conducted and released today by BDC. This study is part of a series of surveys BDC is conducting to gain insight into the mental health status of business owners across the country.

According to a 2019 survey conducted before the pandemic by the Canadian Mental Health Association and supported by BDC, 16% of small business owners at the time said they were likely to seek professional help.1

The survey reveals that among those who report being open to seeking support for a mental health issue, fear of a cash shortfall (62%) and the recession (51%) were identified as the main sources of stress.

To address mental health challenges, these business owners prioritize various coping strategies, including finding quiet time to relax (59%), getting physical activity (53%) and taking time off or vacation (43%).

“Canadian business owners are more open than ever to seeking mental health support when needed. That’s encouraging news,” says Annie Marsolais, Chief Marketing Officer and Mental Health Ambassador at BDC. “The fact that seeking mental health support is no longer as taboo as it was in the past is very positive.”

According to the report, which also addresses business owners’ perceptions of the mental health of their workforce, personal finances are the number one source of stress for half of their employees.

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1 Note that the question and methodology of the 2019 survey differed from those of the 2022 survey.

Work/life balance a key concern
Nearly half of the business owners surveyed cite work/life balance as a major source of stress (48%), which is reflected in the actions they are taking to promote good mental health among their team members. To support their employees in this area, the top two actions leaders are taking are to provide flexible schedules (55%) and additional time off (50%).

“The biggest source of stress for the business owners surveyed is financing, which is no surprise given the current economic climate. However, behind these concerns lies a particular consideration for their well-being and that of their staff. The solutions that these business owners are prioritizing reflect a transformation in the work environment: flexible schedules, additional time off, remote and hybrid work, and team-building activities,” adds Marsolais.

Business owners from diverse backgrounds are more affected by mental health issues
The report shows that the sources of stress for business owners from diverse backgrounds are sometimes more acute than for all respondents combined. This is especially true of access to cash, which is a concern for nearly four in five business owners from LGBTQ2+ communities (79%), compared to 62% of those surveyed overall. The recession is also a concern for a larger proportion of business owners who are members of visible minority groups (66% vs. 51%).

BDC’s Survey on SME owners’ mental health was conducted among 753 small business owners across Canada between August 26 and September 9, 2022.

The placement includes 32 locations under the Sobeys banner and 16 locations under the Safeway banner, which is a subsidiary of Sobeys. Customers can find the full Doseology product line in the Rachelle Béry wellness boutique section of Sobeys and Safeway.

“Adding Sobeys to our distribution network is a significant accomplishment, as Sobeys is the second largest supermarket chain in Canada. We are very excited about this placement, as it approximately doubles our retail footprint. I am proud of the work that our dedicated team has undertaken to expand the distribution of our brand across Canada,” said Doseology CEO Ralph Olson.

About Doseology Sciences (CSE: MOOD) (OTCQB: DOSEF) (FSE: VU7)
Doseology Sciences Inc. is building a progressive brand focused on mental health and wellness through cultivation, extraction and innovative nutraceutical and pharmaceutical products. Doseology aims to make a meaningful impact on the mental health pandemic by utilizing and developing functional fungi and plant-derived drugs. With a vertically integrated approach, Doseology intends to process and distribute products at its facilities in Vernon, British Columbia, in accordance with applicable laws to ensure safe and high-quality production.

The Corporation decided to renew the issuer bid program as an additional option for using excess funds. Thus, the Corporation will be able to repurchase, in the normal course of business, between November 25, 2022, and November 24, 2023, up to 7,000,000 of its Common Shares representing approximately 2.97% of its issued and outstanding shares on November 11, 2022. On November 11, 2022, there were 235 379 356 issued and outstanding shares of which 192,503,985 were part of the outstanding public float of the Corporation.

The average daily trading volume of the Corporation’s Common Shares over the last six (6) completed months was 392,624 shares.

Accordingly, under the Toronto Stock Exchange Requirements, the Corporation is entitled on any trading day to purchase up to 98,156 Common Shares subject to the Toronto Stock Exchange Requirements regarding block purchases. Repurchases will be made through the facilities of the Toronto Stock Exchange at market price, by its policies and regulations, or through the facilities of alternative Canadian and American trading systems as well as by other means as may be permitted by a securities regulatory authority, including by private agreements. The Common Shares so repurchased will be cancelled. Purchases made by way of private agreements under an issuer bid exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price as provided in the exemption order.

Under the existing normal course issuer bid program, which is for the period from November 25, 2021 to November 24, 2022, the Corporation repurchased 7,000,000 Common Shares, which represents the totality of the Common Shares the Corporation was authorized to repurchase, at a weighted average price of $68.81 per share for a total of $481.7 million. Repurchases were made through the facilities of the Toronto Stock Exchange at market price, in accordance with its policies and regulations, and through the facilities of alternative trading systems.

With over two decades of experience in brand strategy, sales, marketing and general manager roles for food, beverage and other CPG companies, Clarke brings a deep understanding of the food business at every stage of growth, from larger, well-established household name brands to younger, fast-growing brands. He’s held leadership roles in traditional retail, on-the-go and food service channels, focusing intensely on the European market.

“Noel is the demand strategist and operator we need to create a foundation for sustainable growth abroad,” said Impossible Foods CEO Peter McGuinness. “We’re going to grow deliberately, in a thoughtful and methodical way. That means optimizing and maximizing our priority markets as we put strategic plans in place to expand further over time. Noel knows how to build tailored demand strategies for specific markets while establishing and executing thoughtful growth plans.”

Most recently at Unilever, Clarke led the Unilever Nordics business across all categories. Before that, he led the sales and marketing functions for Unilever’s ice cream and beverages division in the UK and Ireland, where he drove a step change in growth in out-of-home sales channels and across well-known household brands, including Ben & Jerrys, Magnum and more. Prior to Unilever, he served as head of marketing for carbonated drinks at Britvic UK, leading the growth of the Pepsi, 7Up and Tango brands across foodservice and various retail channels.

“I have a steadfast belief that businesses can and should be a force for good,” said Noel Clarke, new SVP of International for Impossible Foods, “With Impossible, the product is of course incredibly compelling, but it was the mission and growth opportunity that really drove me to join the team. As a young, high-growth company that’s building a new category, Impossible has a thrilling opportunity to drive real change and impact – both for the commercial side of the business and the planet at large.”

Clarke’s arrival comes during a period of strategic growth across Impossible’s international business. In the past year, the company launched its first European market, the United Kingdom, and announced major collaborations with globally renowned brands like Domino’s Pizza in Australia and New Zealand, Tim Hortons in Canada, and Fat Brands in the United Arab Emirates, bringing dozens of Impossible™ menu items to new consumers in key markets.

Impossible has seen strong growth in Australia and New Zealand, doubling the number of restaurants carrying its products within a year and launching three retail products (Impossible Beef, Impossible Chicken Nuggets, and Impossible Pork Made From Plants) in a six month period. As a result, the company has doubled its brand awareness in the region.

The 17-year-old senior at La Jolla Country Day School is a social media sensation and one of the country’s most renowned female high school athletes. With a top 20 national ranking in her graduating class, almost 700K followers on Instagram, and over 10 million likes on her TikTok videos, Williams is heralded for both her play on the basketball court and her presence on social media.

“I love Lemon Perfect because it gives me a healthy way to stay hydrated with flavor, and I’m excited to join the team because I can put the brand on my platforms and show my fans how amazing Lemon Perfect is,” said Williams. “Lemon Perfect does not fake their goodness for the cameras and is a super-dope company, which makes it taste even better. When it comes to performance, it’s important to take care of your body, and Lemon Perfect always helps me perform at my best.””Our partnership with Jada is exciting for Lemon Perfect as we dive meaningfully into the NIL ecosystem,” said Lemon Perfect Founder and CEO Yanni Hufnagel. “That Jada is both a top-tier basketball prospect and social media star is unique. She is a one-of-a-kind basketball prospect and content creator whose talent in front of the camera and on the court will help drive brand awareness as Lemon Perfect continues its quest to become the number one brand in the enhanced water category by dollar share.”

In April, Lemon Perfect announced the closing of a $31 million Series A headlined by internationally celebrated award-winning artist and entrepreneur Beyoncé Knowles-Carter. The financing brought Lemon Perfect’s total valuation to over $100 million in less than three years from the company’s selling its first bottle.