Business Insolvency |
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Should British business owners take a gamble? 'You Bet!'
28/03/2008
New research conducted by Abbey Business Banking has discovered that 76 per cent of small business owners say the initial gamble of starting their own business has paid off.
Even more - 87 per cent - echoed the title of the Edith Piaf song Je Ne Regrette Rien by saying they would make the same decisions all over again.
Exactly half of entrepreneurs questioned said that they would describe themselves as a risk taker, while two per cent confessed to being 'real business daredevils'.
Only six per cent of those questioned said that they had so far exceeded their initial expectations, but a heartening 40 per cent said that they had fulfilled them, with 30 per cent optimistically saying they were getting there.
It is a surprise that many business owners found the time to take part in the survey. The average entrepreneur estimated that they worked 42 hours a week but 22 per cent that they worked over 60 hours a week.
Paula Ickinger, head of Abbey’s business banking, has limited sympathy for these hard workers. "If you put the hours in it seems that for the majority of entrepreneurs their goals have been realised," she said.
Most business owners, daredevil or otherwise, will be hoping for a Bank of England interest rate cut next month.
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