Mental health concerns of small business entrepreneurs in India due to COVID-19 financial distress

Lathabhavan, Remya; A, Nazeel Barami; Kurikkal, M P Mohammed Mishal; Manoj, N. Y.

doi:10.1016/j.ajp.2021.102774

Cited by 9 publications

(9 citation statements)

References 6 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…When more than two stressors are active in a person's life at once, this may result in a strain that could have a more severe psychological impact on a person's well-being [22]. The COVID-19 pandemic has introduced several stressors into individuals' lives [10,11,13]. As mentioned, individuals are faced with a number of stressrelated factors induced by the pandemic-ranging from health concerns to insecurity about future economic stability [6].…”

Section: Covid-19 Related Stressmentioning

confidence: 99%

“…Torrès et al [12] investigated health perceptions regarding French business owners' physical and mental health collected before and during the pandemic. Lathabhaven [13] considered economics, financial and depression anxiety as factors in a study on small business owners in India. To the best of our knowledge, the relationship between self-efficacy as a mediating role in stress perception and coping with stress has not been investigated regarding COVID-19.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Biting the bullet: When self-efficacy mediates the stressful effects of COVID-19 beliefs

et al. 2022

View full text Add to dashboard Cite

The impact that COVID-19 had on individuals globally has been immense. Our study aims to determine if the various COVID-19 related beliefs (information seeking; invulnerability; disruption; health importance and response effectiveness) are predictors of perceived stress and if self-efficacy acts as a mediator in reducing perceived COVID-19 related stress. From a large sample of 23,629, data were assessed using validated multi-item measures for seven COVID-19 related beliefs, self-efficacy and perceived stress. After conducting a series of tests and checks via Confirmatory Factor Analyses, linear modelling and mediation analyses with bootstrapping were applied to test direct and mediation hypotheses. It is found that stress perception is most strongly affected by self-efficacy and perceived disruption. Except for information seeking, which positively affected perceived stress, self-efficacy partially mediates all other COVID-19 related beliefs (perceptions of disruption, health importance and response effectiveness) in conjunction with their direct effects. Only perceived invulnerability elicited opposite effects on stress, increasing stress directly but decreasing stress indirectly by increasing self-efficacy. This finding gives reason to believe that individuals may disclose that they are less vulnerable to COVID-19, fostering their self-efficacy, but still accept that stressing factors such as economic and social consequences apply. Overall, reinforcing self-efficacy was carved out as the most important resilience factor against perceiving high levels of stress. On this basis, implications for research and practice are provided.

show abstract

Section: Covid-19 Related Stressmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Biting the bullet: When self-efficacy mediates the stressful effects of COVID-19 beliefs

et al. 2022

View full text Add to dashboard Cite

show abstract

“…With the support of COR theory, the study showed that small business entrepreneurs in India faced difficulties during the pandemic with reduced or nil financial support as a resource. Thus, the study reinforces the views and findings of the previous studies that projected the business impacts of the pandemic (Donthu & Gustafsson, 2020 ; Lathabhavan, Barami.A, et al, 2021 ; Lathabhavan, et al, 2021 ). Second, the study found significant positive relationships of economic hardship with anxiety, depression, and stress.…”

Section: Discussionmentioning

confidence: 99%

“…Financial issues seem to affect people adversely and induce depression, anxiety, and stress in difficult times (Mamun et al, 2020 ). During the pandemic, the financial distress has been shown to affect the mental health of people (Lathabhavan, Barami.A, et al, 2021 ; Lathabhavan, et al, 2021 ).…”

mentioning

confidence: 99%

COVID-19 and Mental Health Concerns Among Business Owners: a Cross-Sectional Study from India

Lathabhavan

2022

Int J Ment Health Addiction

Self Cite

View full text Add to dashboard Cite

The study examines the relationship between pandemic-induced financial distress and mental health of entrepreneurs in India. A cross-sectional research design was used, and a survey was conducted among 816 small-scale entrepreneurs of diverse business entities. Structural equation modeling was performed to analyze the data. Both economic hardship and financial threat reported significant positive relationships with depression, anxiety, and stress. Financial wellbeing was found to be negatively related with depression, anxiety, and stress. The study stands among pioneers who have investigated the mental health issues among entrepreneurs during the COVID-19 pandemic. The study provides holistic implications by recommending a collective mechanism that involves individuals, governments, and institutions, for helping small business entrepreneurs cope with the situation, avoid trauma, and have a positive mental health. Future studies can focus on longitudinal data collection to provide better accuracy and consistency.

show abstract

“…Such restrictions also added up mental health concerns since they have indirectly a lot of socio-economic factors such as loneliness, financial distress etc. (Elmer et al, 2020 ; Lathabhavan et al, 2021 ).The measures such as lockdown induced mental health concerns among those who experienced job loss, suspected contact with COVID-19 patient, being associated with larger family etc., in worst cases, the isolation led to loneliness and suicidal ideation (Le et al, 2020a ). The face mask use was made compulsory by most of the governments, whereas some lenient policies in implementation and lack proper health education regarding this invited more stress and depressive symptoms among people (Wang et al, 2020a ).…”

Section: Introductionmentioning

confidence: 99%

Fear of COVID-19, psychological distress, well-being and life satisfaction: A comparative study on first and second waves of COVID-19 among college students in India

Lathabhavan

2022

Curr Psychol

Self Cite

View full text Add to dashboard Cite

The aim of the study is to examine the relationship of fear of COVID-19 with well-being and life satisfaction through psychological distress among the college students in India. The study was conducted in two waves of the pandemic—during first and second waves of the COVID-19 among college students. A survey was conducted among 768 and 884 students in first and second waves of COVID-19 respectively for this purpose. Structural equation modeling was used to analyze the data. The study found out that the fear of COVID-19 positively related to psychological distress and negatively to well-being and life satisfaction and the effects were stronger in second wave. Also, the psychological distress mediates the relationship between fear of COVID-19 with well-being and life satisfaction, and the relationships were stronger during second wave. Proper coping strategies and mechanisms can be helpful to overcome the difficulties of such situation.

show abstract

Mental health concerns of small business entrepreneurs in India due to COVID-19 financial distress

Cited by 9 publications

References 6 publications

Biting the bullet: When self-efficacy mediates the stressful effects of COVID-19 beliefs

Biting the bullet: When self-efficacy mediates the stressful effects of COVID-19 beliefs

COVID-19 and Mental Health Concerns Among Business Owners: a Cross-Sectional Study from India

Fear of COVID-19, psychological distress, well-being and life satisfaction: A comparative study on first and second waves of COVID-19 among college students in India

Contact Info

Product

Resources

About