The federal government of Australia will spend $3.6 million tackling small business owners' mental health issues under a new policy package announced by Small Business and Family Enterprise Minister Michaelia Cash on the weekend. 

The PwC analysis found every dollar spent on workplace mental health among small businesses returns $14.50 in productivity benefits.

More broadly, a recent survey of 440 business owners conducted by not-for-profit mental health advocates Everymind found rates of symptoms associated with depression and anxiety are higher than the national average. More than half (57.6%) of Everymind's respondents reported stress levels which fall outside of the “normal” range.

The vast majority ($3.1 million) of the funding package will be given to Everymind to expand their ‘Ahead for Business’ program trail, which launched about six weeks ago. The digital platform, being trailed in three NSW communities, is designed to provide business owners with flexible, free and accessible support, helping them conduct screens or mental health checks around common stress sources. More general business information is also provided, including advice about cashflow management and policy compliance. 

Some of the money will be used to conduct more research on how successful the program has been so far and how it can be improved to better service the needs of business owners. 

Half-a-million dollars will also be spent on a nationwide government campaign to promote small business mental health awareness under the policy, which has been welcomed by advocates. Meanwhile, a small business mental health roundtable will also be conducted to help develop future policy solutions, particularly for regional and rural business owners.