Minimum-wage changes should spur full, concurrent HR policy reviews<\/a><\/li>\n<\/ul>\nAdding to the challenge was the energy needed to rebuild her business. \u201cI wasn\u2019t feeling up to it, but didn\u2019t really have a choice.\u201d<\/p>\n
Ten years after getting back on track, her mother was diagnosed with Alzheimer\u2019s at a time when Vetturetti also had a young family to take care of. \u201cI was getting constant unplanned emergency calls. You\u2019re trying to focus on business, but also thinking of them all the time. It was crisis after crisis.\u201d<\/p>\n
The interruptions meant having to work all night to catch up. \u201cThe business problems don\u2019t go away while you\u2019re attending to things with your family. You have to pay your overhead, while at the same time make enough to justify the costs of long-term care. As a business owner, I don\u2019t have a pension coming so I also need to always be thinking about how much I have for retirement.\u201d<\/p>\n
This time she opted to get advice from an elder care specialist to explore her options. Now she says she is managing two businesses \u2013 her professional team and another group of people caring for her mother that include caregivers, accountants and others. \u201cThey\u2019re staff, too.\u201d<\/p>\n
She also had to face some realities, such as the hours she would be available for work, reducing overhead costs, and accepting the fact that she could not be on a growth plan. \u201cI learned that I can\u2019t just walk away and abandon a business for a year. But I did have to step back and recalculate how much I could do.\u201d<\/p>\n
Today, 35 per cent of employed Canadians are unpaid caregivers, reports Audrey Miller, managing director for Elder Caring Inc. in Toronto. \u201cA majority spend up to nine hours a week on average, but that can jump up to 30 hours or more depending on what is going on. For a small business, that can impact the bottom line to the point where they might not be able to manage, not to mention the added emotional and physical strain.\u201d<\/p>\n
Unlike employees, business owners simply don\u2019t have the resources to protect their livelihood. \u201cMany employers have supports in place for employees who are caregivers. Business owners don\u2019t.\u201d<\/p>\n
Planning ahead is critical, she advises. That may include a full assessment of the older person\u2019s diagnosis and financial status. \u201cEducation is a big piece \u2013 what is available, what care costs are, what the government can provide. That can give families the ammunition and ability to be as proactive as possible. There are a number of resources that can be provided, such as transportation to shopping or appointments. Another important piece is setting some boundaries without feeling guilty.\u201d<\/p>\n
Plamen Petkov, vice-president of Ontario and business resources for CFIB, says that on average, approximately half the owners of small- to medium-sized business are in the 50-to-64 age bracket. This means elder care will become an increasingly common issue. \u201cMany have just finished taking care of their young kids. Now they have to focus on parents. That\u2019s something that is not always top of mind for business owners.\u201d<\/p>\n
The best approach is to treat it as you would with any other disruption, he advises. \u201cIt\u2019s important to plan in advance and formalize it. What happens if you need to take a week or month off? What protection do you have as a business owner? Who can step up as a manager or supervisor on a temporary basis? Share the plan with your team and other family members.\u201d<\/p>\n
Unfortunately there will be cases where the owner is an integral part of running the business, he adds. \u201cThey may not be able to continue if they have to take time off.\u201d<\/p>\n
For Vetturetti, the key has been getting professional advice and surrounding herself with good people. “I am now equipped to know how to deal with it all \u2026 At the same time, I would rather not have to.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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