A recent study by Sifted reveals a stark reality for startup founders: more than 70% have experienced high stress and anxiety in the past year. This has led 49% of the entrepreneurs surveyed to consider quitting their startups.

Amid this backdrop, ULTRA.VC, a Limassol-based impact-focused accelerator and venture capital firm, conducted its own survey to understand how founders aged 18 to 60+ maintain work-life balance and navigate stress. The survey was conducted in February-March 2024.

202 founders from 47 countries around the world participated in the survey. Cyprus is among the top 3 countries with the largest number of respondents.

Despite the widespread stress, the ULTRA.VC survey presents a nuanced picture. Surprisingly, 70.8% of the surveyed founders reported that their work-life balance either improved or remained unchanged over the last year.

However, this trend varied significantly depending on the stage of the startup. Only 37.5% of pre-seed and seed stage founders saw an improvement, compared to 54% of early-stage and 61% of later-stage founders.

A striking 71% of respondents admitted that work is a higher or the highest priority in their lives, often at the expense of their "off-work" time. Personal sacrifices are a common theme, with many entrepreneurs viewing them as necessary for success. Gen Z founders, in particular, are more likely to sacrifice personal lives for work, with 31.8% ready to make such trade-offs, compared to 14.9% of Millennials and 12.5% of Gen X respondents.

The primary sacrifices reported include hobbies (18.8%), leisure time (15.5%), and physical activity (14.7%). However, these sacrifices come at a cost. For 45% of founders, the ability to spend time with friends has declined, leading to increased stress (41.7%), burnout (15.3%), and anxiety (13.9%).

In stressful environments, founders seek various coping mechanisms. The survey highlights that 45.5% of respondents turn to physical activity for emotional support, while 23.8% rely on romance. Socializing with friends also plays a crucial role in reducing feelings of loneliness, isolation, and anxiety.

Interestingly, while Elon Musk's 80-100 hour work weeks are well-publicized, over 80% of surveyed founders believe they can change the world working fewer than 60 hours per week. Nonetheless, they acknowledge the health risks associated with working over 55 hours per week, such as increased risks of strokes and heart attacks.

Founders shared practical tips for maintaining harmony between personal and professional life. Successful entrepreneurs, especially those at the expansion stage, often use time management and screen-monitoring apps more frequently than their pre-seed counterparts. They emphasize the importance of knowing when to stop, getting good sleep, eating healthy food, and exercising regularly. Additionally, remembering the purpose behind their hard work helps in maintaining perspective.

ULTRA.VC is an impact-focused EU accelerator and early-stage investor dedicated to supporting and empowering founders from the early stages of their business lifecycle to securing pre-seed investments. The acceleration program targets startups with the potential to significantly improve quality of life and address pressing climate, social, and psychological challenges.