mental health: a strategic asset for the innovation economy

On the occasion of World Mental Health Day, the Regroupement des jeunes chambres de commerce du Québec (RJJCQ) and the Mouvement des accélérateurs du Québec (MAIN) agree that mental health continues to be a major issue for young professionals and entrepreneurs in Quebec. 

More than an individual concern, it's a major economic challenge.

Mental health issues weigh heavily on the Canadian economy. Each year, lost productivity and absences related to mental health problems cost our economy an estimated $51 billion, including medical care, prolonged absences and reduced productivity within companies. It is therefore crucial to recognize that mental health is also a major economic issue. A study by Deloitte clearly shows that companies who invest in supporting their employees' mental health not only improve the well-being of their staff - they also boost their competitiveness. In fact, every dollar invested in support initiatives yields an average of $4.20 in productivity gains.

As for entrepreneurs, a BDC survey shows that the average mental well-being score of entrepreneurs, according to the WHO-5 index, is 59 out of 100, just above the threshold of 50 indicating low well-being. In fact, work-life balance is one of the main stress factors, followed by inflation in these times of economic slowdown. When an entrepreneur is in crisis, distressed or facing burnout, the repercussions are many, and not just for the entrepreneurial project or their business. It's a whole community of families, loved ones, employees, coaches, investors and their entire network that is impacted. 

The results of the sixth and final Travaillons Ensemble survey, conducted by the RJCCQ between 2021 and 2024, paint a worrying picture of the mental health of young professionals and entrepreneurs aged 18 to 35. These results reveal that more than one in 2 respondents consider current mental health support measures to be insufficient. That's why awareness and access to healthcare resources are so important.

Mental health as a strategic asset in professional and entrepreneurial careers. 

Although awareness of mental health issues is on the rise, we still have a long way to go to change perceptions on the subject. Even today, the myth of the superhero entrepreneur invincible in the face of all obstacles and the culture of performance in organizations are still very much alive. It's true that young professionals and entrepreneurs experience a lot of stress and carry a lot of weight on their shoulders, but their journey shouldn't be a painful one. Breaking through these illusions is imperative to create an environment where everyone can show their true colors, strengths and vulnerabilities.

Psychological health deserves to be recognized and treated with care. It is an invaluable barometer of overall health, which includes physical, emotional, social and financial health. If an individual's mental health is in tip-top shape, he or she will be more likely to successfully carry out a professional or entrepreneurial project, or to bounce back quickly after a setback. As they move forward, they will be better able to cope with the unknown in their daily lives, be resilient in the face of difficulties, develop sound management skills with their colleagues and future team, and make a positive contribution to the economy and society.

Let's work together to build a more humane and resilient entrepreneurial ecosystem.

A movement doesn't just happen. MAIN and the RJCCQ, committed to young professionals and entrepreneurs, are seeing increasing efforts to improve psychological well-being within the entrepreneurial community. Last May, a survey conducted by the BDC revealed a significant increase in the use of professional help among entrepreneurs, accompanied by a growing willingness to make mental health support initiatives more accessible. These results show promising signs of general improvement in this area.

In this respect, we also welcome the major investments made by the federal and provincial governments in their most recent respective budgets. These commitments testify to an ever-growing global awareness of mental health issues.

With everyone's contribution, let's co-construct a more resilient, more humane, more innovative and more effective ecosystem. An ecosystem where each individual is valued for his or her uniqueness, where psychological capital is seen as a most precious asset.

About Mouvement des accélérateurs du Québec (MAIN) 

The goal of the Mouvement des accélérateurs d'innovation du Québec (MAIN) is to ensure that every innovative start-up, wherever it may be in Quebec, has access as quickly as possible to the best resources available to support its development and growth. 

In this vein, MAIN propels the mental health support initiative Le Parachute. Created in 2020 in the Capitale Nationale. This program is now being rolled out across Quebec by MAIN, with financial support from the Ministère de l'Économie, de l'Innovation et de l'Énergie. The Le Grand Saut event will bring together entrepreneurs and mentors in Quebec City on November 21.

For more information, visit https://mainqc.com and https://leparachute.ca/

About the RJCCQ   

Since 1992, the Regroupement des jeunes chambres de commerce du Québec has supported and federated a network of some 40 young chambers of commerce and youth wings across Quebec, representing over 10,000 young professionals, executives, self-employed workers and entrepreneurs aged 18 to 40. In addition to its wide geographic reach, it includes 10 organizations from cultural communities. 

For more information, visit www.rjccq.com

Louis-Felix Binette, General Manager, MAIN

Pierre Graff, Chairman and CEO, RJJCQ