Starting a business has long been a great Australian dream, and there are few things more rewarding than working for yourself. But that’s not to say it comes without its challenges. From spotting another prematurely grey hair in the mirror to having to cancel date night yet again (or, worse, forgetting a special anniversary) – we know that running a business can be demanding. Which is why we’re here to make it better with our Emotional Tax Return competition.
Following one of the toughest years yet, Xero is inviting Australia’s small business owners – that means advisors too – to make an Emotional Tax Return claim. To enter, simply fill out the form on this page detailing the emotional expenses you’ve incurred due to the demands of running your business in 75 words or less before 11:59pm on 16 July 2021. Your claim will then be reviewed by a panel, with the most creative and original responses winning a tailored experience from a total prize pool of up to $50K (T&Cs apply).
Uncovering the emotional costs of running a business
To shine a light on some of the hidden emotional costs being felt by small business owners across the country, we conducted a survey. The results revealed that two thirds of people running a small business claim the last 12 months have been more emotionally draining compared to previous years. In addition, four in five agreed that running a small business takes away from their personal lives.
Sometimes missing out on the funner things in life, our research shows that many small business owners are under-romanced, with 39 percent of singles unable to remember the last time they went on a date. To add to that, they’re under-holidayed, with more than half sacrificing a family holiday for their business. Perhaps not so surprisingly, they’re also underslept, with small business leaders collectively missing out on more than eight million hours of sleep each week. And these feelings have undoubtedly been heightened by the challenges of the past year.
Celebrating and supporting Australia’s small business owners
So, what might the Emotional Tax Return competition entries and prizes look like? Check out our launch video starring weather presenter and love song singer Sam Mac (who you may recognise from last year’s catchy ode to bookkeepers and accountants) for inspiration. For example, need a sleep-in? You could be snoozing all day in a luxury hotel. Missed your wedding anniversary? Let us help rekindle the flame with a romantic night out. Haven’t had a holiday in years? Get ready to pack your bags.
Whatever your business does – from construction, to hospitality, or bookkeeping – we can’t wait to see your entry. And while the emotional cost of running a business may have been made clear, our survey also revealed that the majority of Australians running a small business (an impressive 77 percent) say they wouldn’t change it for the world – a timely reminder than even when you’re doing it tough, it’s always worth it in the end.
You can find out more about Xero’s Emotional Tax Return competition here.