Inspiring Business by Sharing Success

Derby business owner Beverley Wakefield is encouraging others to make more time for themselves to avoid burn-out

Derby business owner Beverley Wakefield is encouraging others to make more time for themselves to avoid burn-out

A DERBY business owner and director of a children’s mental health charity is encouraging others to make sure they take time for themselves – and their families – to avoid burn-out this summer.


Beverley Wakefield, co-founder of Duffield-Road based Vibrant Accountancy, says down time is vitally important to help business owners maintain a passion for their work.


It comes as national mental health charity Mind revealed that one in four adults and as many as one in six young people, of the 10,000 who took part in its survey, experienced mental distress for the first time during the coronavirus pandemic.


Beverley said: “Whilst it takes grit, determination and persistence to make your business a success, you need to ensure that you also get enough down time.


“Burn-out is one of the reasons why businesses fail. Losing your spark or the passion for your business isn’t going to see you through those darker days; wearing the fact that you haven’t had a holiday or taken a breath in a working week shouldn’t be worn as a badge of honour.


“No-one can sustain that and, whilst we need to dig deep in business to make it succeed, looking after yourself and the wellbeing of your staff is so very important.


“Whether you’re a new business owner, one of the many start-ups we have seen flourish during the past 18 months, or a working parent trying to juggle childcare over the summer holidays and holding down a job, it is vital to take time out to recharge your batteries. Your business will benefit in the long-term.”


Beverley, who is also director of children’s mental health CIC Bridge the Gap and set up Vibrant Accountancy with business partner Ian Ball in September 2019, has also encouraged businesses – particularly young entrepreneurs who may still be finding their feet – to ask for advice and utilise government support where possible.


She said: “There are schemes out there – such as the East Midlands Chamber’s Upscaler programme, which is fantastic for peer-to-peer support, and the Enscite and Green Entrepreneur Programmes; both are organised by the University of Derby and I’d strongly encourage all business owners to find out more.


“Then there are various Government initiatives, too, such as the Kickstart scheme, which is for those wishing to grow their business.


“Experience and seeking out those people with experience who can help and support you is vital in making your business a success. Remember the importance of your network – seek out and build, and use your network.


“Take advice, ask questions and surround yourself with like-minded people. That, in turn, will give business leaders confidence and, hopefully, economic growth in the UK will follow after a challenging 18 months.”


And, as an accountant, Beverley says it’s vital that businesses know their numbers.


She said: “As an accountant, you’d expect me to say this but cash is king! Genuinely, businesses fail because they run out of cash.


“Not forecasting and making sure that you’re aware of any surprises on the horizon – big payments, payments to the tax man or even getting your pricing wrong – can cause businesses to buckle.


“The best businesses can fail if they’re cash starved so get yourself familiar with your numbers, forecast your cash and, if you don’t have the time to do it, invest in the right person to do it for you.”

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