89% of founders report that their leadership capacity has declined due to mental load

"Being a founder-CEO is the loneliest job in the world"

Last week, the Human Runway Initiative published a study based on responses from 158 Nordic founders, examining their honest experiences and wellbeing. 89% of startup founders had noticed a decline in their leadership capacity and decision-making over the past six months due to mental load — which directly impacts startups' growth potential. That's a significant number, with real consequences for startups' chances of success and growth.

Loneliness is the single biggest factor undermining wellbeing

The load isn't explained by hours worked, funding stage, or team size. The single biggest factor undermining wellbeing was the experience of loneliness, with decision-making pressure coming in second. Nearly every founder is fighting the same battle — but alone and in silence. Loneliness often comes with the thought: "I'm probably the only one who feels this way" — which only deepens the experience. 65% of founders had experienced loneliness, and yet 71% had avoided telling their investors about their struggles. The culture of coping runs deep — vulnerability feels like a risk, even though suppressing it is often the greatest risk of all. Seeking help and changing behaviour is blocked by a perceived lack of time and energy: the very founders who most need to pause are the ones who feel least able to. When there's no time to stop and fix problems, the vicious cycle becomes very real.

A trusted thinking partner and supporting organisational structures help

The founders who are doing best are those who had a channel for sharing the load — a mentor, a co-founder, a trusted thinking partner. Loneliness is also amplified when everything runs through the founder. The situation can be eased by ensuring that structure, decision-making, and leadership practices support growth — and lighten the founder's burden.