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Start-up TV inspires entrepreneurs

12/07/2007  10:31:32

 


 

Television shows such as Dragons Den are inspiring millions of UK business start-ups, new research suggests.

A study by NatWest has found that 19 per cent of young entrepreneurs who began a business start-up in the last five years were inspired by reality TV.

The research also revealed that 17 million Britons have considered a business idea, with 30 per cent intending to make their dream a reality.

Those already involved in running businesses have warned, however, that TV shows can give the false impression that company formation is glamorous or easy.

Steve Pateman, chief executive of business banking at NatWest, said: "While its encouraging that TV programmes can inspire an army of armchair entrepreneurs into action, they only really scratch the surface of what it takes to run a successful business."

The study found that flexible working was a huge incentive to go solo, with 77 per cent of would-be entrepreneurs citing this as a motivation. Potential freedom and independence - along with frustration with current bosses - also featured strongly.

NatWest produced the study as part of its small business support scheme. The high street bank offers small business start-ups two years free banking and free face-to-face advice from a network of over 1,700 locally based business managers.

Taking advantage of these benefits, Mr Pateman added, meant that lack of confidence and financial know-how "neednt be a barrier to getting a good business idea off the ground".


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