Fundraising, Entrepreneurship and Mental Health

Emmet McGonagle

June 17, 2022

Being an entrepreneur is hard, and raising money from investors makes it harder. The experience creates certain expectations about how quickly you’ll grow, which may be a cause for demotivation if these are not met. 


In fact, most founders say fundraising is the most painful thing they’ve ever done. According to data from the US Census Bureau, 77% of entrepreneurs use an estimated $10,000 of their own money as startup capital at the very beginning of their startup journey, while two fifths (41%) were funded by a loan or line of credit.


According to Jan Lederman, director at Valhalla Private Capital, entrepreneurs should expect to do upwards of 50 pitches in their search for funding. However, regardless of success, the transition from startup to business is not a linear path and the high risk factor can take a toll on your mental health. This is an understated issue among entrepreneurs as founders want to appear as successful without expanding on the pitfalls they encountered along the way. 


A 2019 study by the Canadian Mental Health Association revealed that mental health issues affected nearly half (46%) of participants’ ability to work, while more than a fifth (21%) of entrepreneurs felt satisfied with their mental health less than once a week.


For this reason, it is important to have a community of like-minded entrepreneurs - including mentors and advisors - which you can network with to make the experience a little less daunting.


If you are struggling with your mental health, the Canadian Mental Health Association is a nationwide organization that promotes mental health and supports people recovering from mental illness.


Do you have a question about angel investing? Get in touch with Valhalla Private Capital via our contact page.

Canadian Unemployment Grows in ‘Labour-Constrained Economy’

By Emmet McGonagle • December 1, 2023
Canada’s unemployment rate has trended higher once again this month, according to the latest iteration of Statistics Canada’s November labour force survey.

Workers Call for Pay Transparency

By Emmet McGonagle • November 29, 2023
More than half of workers believe that disclosing worker compensation details on job postings will lead to better equality in pay, according to the latest iteration of LinkedIn’s Workforce Confidence Index . The index - which is based on a survey of 3,302 members in Canada between June and September 2023 - found that 52% of people asked felt that people sharing their pay information (including salary and bonus) would improve workplace equality, compared to 48% in 2022. This number varies between different generations, with younger Canadians more likely to express support for pay transparency (73%), followed by 69% of Millennials, 46% of Gen X and 44% of Baby Boomers. However, 37% of those surveyed remarked that they felt anxious about sharing their pay information - a 2% rise from the year prior. Likewise, just under half (49%) said they felt well compensated for the work they do while 74% expressed that the pay gap between CEOs and employees had become too wide. The people of LinkedIn have come out in their dozens to give their two cents on the topic, with Adrienne Tom , executive resume writer for executives, saying: “ I'm all for salary transparency, so long as the number is clear and legit. Some postings list salary ranges so wide that the actual salary number isn't entirely clear, leaving job seekers confused.” “If you have a manager who is not advocating for the pay gap, you are working for the wrong manager,” remarked career strategist Sweta Regmi , while noting that women in Ontario earn an average of $0.87 for every dollar earned by men. On the topic, she added: “Salary ranges with job postings can help close the gender pay gap while allowing companies to find qualified candidates more quickly.” Do you have a question about angel investing? Get in touch with Valhalla Private Capital via our contact page .
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