At a glance
By Lisa Uhlman
Small business owners are often lauded for their resilience, but unique pressures leave many owners grappling with mental health challenges — and too few seek help. Researchers now see a promising resource in accountants and other trusted advisers.
A recent study by the IPA-Deakin SME Research Centre proposes empowering business advisers to act as early supporters of their clients’ mental health. By building strong, compassionate relationships and knowing how to respond when a client shows signs of distress, advisers can help bridge the gap between financial strain and emotional support.
Accountants as touchpoints for support
Small and medium-sized enterprise (SME) owners experience high levels of stress, depression and anxiety, while struggling to get help for mental health issues because of time constraints, financial limitations and the demands of running a business.
Greg Jennings, chief engagement officer at Beyond Blue and an expert in workplace and small business mental health, points to the range of pressures SME owners face, including unexpected regulatory changes, compliance issues, rising costs and technological changes.
“On top of this, many small business owners struggle with work–life balance, because running a business can be an all-consuming experience,” Jennings says.
“They’re also very committed to their business, which means they often prioritise the health of their business over their own wellbeing.”
Despite this, many SME owners have “underdeveloped help-seeking behaviours,” making them less likely to reach out for professional support, according to the IPA-Deakin study.
This is where accountants may play a transformative role. As trusted professionals who regularly interact with small-business owners, advisers can help support owners’ mental health, Jennings notes.
“They’re often the first and sometimes the only person whom a small business owner will open up to about their business concerns,” he says.
According to Deakin Business School professor George Tanewski, a chief investigator of the study, business intermediaries are well positioned to help with their clients’ mental health challenges because they can see when clients are struggling and guide them towards the appropriate support.
“Accountants are amazing because they listen to a lot of their clients’ issues, and they are also trusted,” Tanewski says. “Compared with other business professionals, accountants rank very, very highly in terms of trust.”
Upskill
A foundation of trust is essential
The researchers developed the Counting on U program, which combines mental health first aid training with relationship-building training (RBT) to equip advisers with both the knowledge and interpersonal skills needed to support clients in distress. Its dual focus is key, Tanewski says.
“If you don’t have a relationship with your accountant, there’s no way you’re going to trust them,” he points out. “The whole point of the relationship-building exercise is to enhance trust and reduce information asymmetry between the adviser and the client.”
That asymmetry — the idea that clients will withhold key information unless they feel safe and supported — is central to the challenge.
“Over several sessions or even several years, the individual finds out exactly what the issues are within that person’s business, and that’s when they add a lot of value,” Tanewski says.
“The client also needs to understand whether the adviser has the skills, the capability and the mental aptitude to be able to advise,” he adds. “So, it’s not just a one-sided issue.”
The program was tested through a randomised controlled trial that demonstrated the positive impacts of relationship-building training, Tanewski notes.
While accountants can play an important role in supporting their clients’ overall wellbeing, it is critical they operate within professional boundaries. Training programs are designed to raise awareness and promote early conversations — not to replace professional mental health services.
Offer compassion and empathy
While the research encourages a holistic approach to client wellbeing, both Jennings and Tanewski maintain that accountants are not expected to become mental health professionals.
Conversations around mental health should be treated as preliminary only and not as clinical support, and accountants should always refer clients on to qualified mental health professionals.
“It’s not a matter of being a mental health professional; it’s a matter of compassion and empathy towards clients,” Tanewski says.
“We’re not trying to turn an accountant into a counsellor. All we are doing is giving them a better means to understand what mental health really is.”
Jennings echoes this by emphasising that advisers should operate within clear boundaries.
“Most of the accountants and business advisers I talk to aren’t trying to be counsellors — they just want to help their clients get back on track,” he says.
“Providing advisers with a clear framework to work within, alongside resources and referral options, will help protect them and their clients.”
Integrate mental health support
One of the major advantages of the intermediary model is its practicality. By incorporating mental health awareness into everyday advisory relationships, barriers like time, stigma and cost are significantly reduced.
“Integrating mental health support into existing business relationships helps to make these conversations feel more natural and approachable,” Jennings says.
“By embedding support within trusted professional connections, business owners save time and money, avoiding the need to seek out new services.”
Making this mainstream will require cultural and structural shifts, including embedding mental health content into professional education.
“We know that many small business advisers are motivated by making a difference in their clients’ business and their lives and recognise the role they can play in encouraging their clients to prioritise their mental health,” Jennings notes.
“But we also know integrating training into existing programs or providing CPD credits will further improve the uptake of mental health training.”
Tanewski adds that cultural resistance often stems from misunderstanding the program’s intent.
“We found that once the accountant understood exactly what we were getting at, and their knowledge broadened about the relationship-building exercise and the fact that it was premised on reducing information asymmetry, then a lot of them didn’t have any issues with it,” he says.
Move beyond the transactional
Ultimately, the research underlines the relational and human nature of professional advice, according to Tanewski.
“Advice is not just a transactional issue; it’s much deeper,” he says. “Business advice isn’t just looking at the business — it’s looking at quite a few other variables, including the psychology and mental health of the client.”
And for those accountants wondering how to help a client who seems to be struggling, Jennings offers simple advice.
“You don’t need to be a mental health expert to ask someone how they’re travelling,” he says. “It’s just about listening, helping them to explore their options, and encouraging them to seek help.”
