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The excitement of entrepreneurship

03/07/2007  10:33:57

 


 

Some 70 per cent of entrepreneurs get a "buzz" out of their business, according to new research.

The monthly internet survey by the University of Nottingham Institute for Enterprise and Innovation (UNIEI), entitled the UK Business Barometer, investigated what circumstances got entrepreneurs adrenalin pumping.

Respondents to the survey cited a range of factors about heading up a business start-up that got them excited, including freedom, control of ones own destiny, success, profit, challenges and winning.

The survey also revealed some of the main problems facing heads of small firms.

Almost one-third cited market conditions as their most worrying problem, while 22 per cent mentioned time pressure as their top concern and 16 per cent cited administrative burdens, such as tax planning.

However, in many cases the pros obviously outweigh the cons. Only ten per cent of respondents planned to give up work at state retirement age.

Recent research has suggested that half of all adults in the UK have considered setting up their own business start-up.

A survey commissioned by EO London, the UK branch of the Entrepreneurs Organisation, found that 55 per cent of men and 45 per cent of women had entrepreneurial aspirations.


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