Mental health: a strategic asset for the innovation economy

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

Beyond an individual concern, a major economic issue.

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

On the entrepreneur side, a BDC survey shows that the average mental well-being score for entrepreneurs, according to the WHO-5 index, is 59 out of 100, just above the threshold of 50 indicating low well-being. 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, distress, or facing burnout, the repercussions are numerous and not only for the entrepreneurial project or their business. An entire community of families, loved ones, employees, mentors, investors, and their entire network is impacted. 

The results of the sixth and final survey of the Travaillons Ensemble project, 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 two respondents consider current mental health support measures to be insufficient. That is why awareness, as well as access to healthcare resources, are so important.

Mental health as a strategic asset in your professional and entrepreneurial journey. 

Although awareness about mental health is growing, there is still a long way to go to change perceptions on this subject. Even today, the myth of the invincible superhero entrepreneur who can overcome any obstacle, as well as the culture of performance in organizations, are still very much alive. Young professionals and entrepreneurs certainly experience a lot of stress and carry a lot of weight on their shoulders, but their journey should not be painful. Breaking these illusions is imperative to creating an environment where everyone can show their true selves, with their strengths, but also with their vulnerabilities.

Psychological health deserves to be recognized and treated with care. It is a valuable barometer of overall health, which includes several parameters such as physical, emotional, social, and financial health. If an individual's mental health is in good shape, then they will be more likely to successfully carry out a professional or entrepreneurial project, or to bounce back quickly after a failure. In their journey, they will be better able to cope with the unknown in their daily lives, be resilient in the face of difficulties, develop healthy management skills with their colleagues and future team, and thus contribute positively to the economy and society.

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

A movement does not happen on its own. The real groundwork for changing the paradigm around mental health lies here. MAIN and RJCCQ, which are committed to supporting young professionals and entrepreneurs, are seeing growing 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 desire to make mental health support initiatives more accessible. These results show promising signs of overall improvement in this area.

In this regard, we also welcome the major investments made by the federal and provincial governments in their latest budgets. These commitments reflect a growing global awareness of mental health issues.

With everyone's contribution, let's work together to build a more resilient, more humane, more innovative, and more effective ecosystem. An ecosystem where each individual is valued for their uniqueness, where their psychological capital is seen as a most valuable asset. 

About the Quebec Accelerator Movement (MAIN) 

The Mouvement des accélérateurs d’innovation du Québec (MAIN) aims to ensure that every innovative start-up company, wherever it is located in Quebec, has the fastest possible access to the best resources available to support its development and growth. 

In line with this, MAIN is promoting the mental health support initiative Le Parachute. Created in 2020 in the provincial capital, this program is now being rolled out across Quebec by MAIN, with financial support from the Ministry of Economy, Innovation, and Energy. The event Le Grand Saut will bring together entrepreneurs and mentors to discuss the issue 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 united a network of some 40 young chambers of commerce and youth wings across Quebec, representing more than 10,000 young professionals, executives, self-employed workers, and entrepreneurs aged 18 to 40. In addition to its wide geographical reach, it includes 10 organizations from cultural communities among its ranks. 

For more information, visit www.rjccq.com  

Louis-Felix Binette, Chief Executive Officer, MAIN 

Pierre Graff, Chief Executive Officer, RJJCQ