Health Equity for Small Businesses: How to Build Your Wealth and Secure Your Health
Health equity is defined as “the attainment of the highest level of health for all people.” Simply put, it means that everyone deserves a chance to lead a healthy life, regardless of socio-economic factors like education, race, income, location or any other real or perceived challenge.
But why should health equity matter to small businesses? We know that employees and employers who have access to healthcare, are financially fit and able to save for their future will be happier and healthier overall, which leads to increased productivity, a better work environment and a stronger bottom line for business owners. Below is information about the connection between health equity and a healthy business, and how you can build a strong business while securing your wellbeing and that of your employees.
Why should I care about health equity as a small business owner?
As our nation’s biggest job creators, small businesses are in a unique position to help working adults learn more about financial health and wellness. And considering that 22 million small businesses are self-employed individuals, it’s important for entrepreneurs to know more about financial and health literacy in order to ensure a thriving small business economy.
A recent report by the Consumer Financial Protection Bureau found that 7 in 10 American workers say financial stress is their biggest cause of stress, and almost half say they find dealing with their financial situation stressful. The report also found that businesses that implement “financial wellness” programs see increased productivity and improved bottom lines.
There is a direct correlation between financial health and a person’s wellbeing. By learning more about financial literacy and helping your employees become more financially fit, you can realize a healthier business and a healthier bottom line.
How can I incorporate health equity into my business?
In order to help more small businesses achieve a healthier and more financially fit business, we’re pleased to announce our new health equity program offering in Missouri. As part of this program, we’re launching a three-part educational series on financial and health literacy for small businesses and their employees. Topics include access to capital, retirement security and options for small businesses, business and personal financial health, workplace wellness and more.