Brits admire hard-working small business owners – but don’t want to take risk themselves

Greater than half of Brits say they admire how hard-working small enterprise house owners are – however 1 / 4 don’t need the stress of changing into their very own boss.

A ballot of two,000 adults revealed virtually one in 4 (23 per cent) are too fearful of failure to make the leap and begin their very own enterprise.

The highest traits deemed important for a start-up proprietor to achieve success are being arduous working (53 per cent), motivated (48 per cent), and organised (46 per cent).

And 35 per cent imagine being prepared to take dangers is essential for operating your individual enterprise.

It additionally emerged practically one in three (31 per cent) would contemplate offering monetary help to a buddy or member of the family who had an concept for a brand new enterprise.

One in four Brits are too afraid of failure to take the plunge and become their own boss
One in 4 Brits are too afraid of failure to make the leap and change into their very own boss

However 31 per cent worry the shortage of safety and stability in the event that they had been to arrange their very own enterprise, whereas one in ten (11 per cent) wouldn’t need others counting on them.

On the plus facet, nonetheless, 4 in ten love the concept of having the ability to work on one thing they’re captivated with.

Claudio Gienal, CEO at AXA UK and Eire, which commissioned the analysis, mentioned: “Launching your own business is a huge decision, and one that requires courage, self-belief, and drive.

“Despite the challenges that face small businesses, the majority of those who have done it believe it’s one of the best decisions they’ve ever made.

“While there are many perceived barriers to going out on your own, the rewards speak for themselves.”

Additional analysis of 500 small enterprise house owners within the UK (with underneath 9 workers), additionally commissioned by AXA UK for his or her Startup Report, discovered greater than a fifth have borrowed money from a member of the family to assist help the enterprise.

However when it comes to emotional help, 44 per cent rely totally on their companion, whereas 19 per cent discover different entrepreneurs are the individuals who actually perceive them.

Alan Sugar was named the entrepreneur most British small enterprise magnates would most wish to emulate when it comes to success, in keeping with the OnePoll figures.

He was intently adopted by the world’s richest man, Elon Musk – after which present vice chairman of West Ham, Karren Brady.

And the highest recommendation small enterprise house owners would give others seeking to comply with of their footsteps can be to easily imagine in themselves – and to be taught from their errors.

It comes as AXA UK this week launches their Startup Angels competitors, which is giving six companies the possibility to win £25,000, in addition to 12 months enterprise insurance coverage and mentorship from a few of Britain’s finest entrepreneurs.

Claudio Gienal added: “At AXA UK, we recognise the all-consuming nature of going it alone – but with the right support, advice and protection, the opportunities are endless.”

Go to right here for extra recommendation from UK enterprise house owners on start-ups.


  1. Consider in your self
  2. Be taught out of your errors
  3. Be able to be taught
  4. Be affected person
  5. Care about your work
  6. Spend cash properly
  7. Do not be afraid to vary
  8. Be ready to hearken to recommendation
  9. Do work you care about
  10. Learn to market your online business
  11. Know your objectives
  12. Have a monetary plan
  13. Have a imaginative and prescient
  14. Be ready to fail
  15. Be taught from complaints
  16. Be prepared to take dangers
  17. Ask for purchasers’ enter
  18. Be crucial of your self
  19. Face your fears
  20. Discover good folks to work with

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