'Being my own boss' biggest reason to start up
Jun 07 2011
28 per cent started their business because they wanted to make their own decisions
Being free to make one’s own decisions is the biggest single reason for entrepreneurs to start a business, research finds.
According to a poll of 588 company directors by SmallBusiness.co.uk, 28 per cent identify ‘being my own boss’ as the key factor in persuading them to start up.
‘To improve my work/life balance’ is the next most popular choice, with 22 per cent of the vote.
The option ‘To make my fortune’ was chosen by just 13 per cent, making it second only to ‘I grew tired of corporate life’ (6 per cent) as the least popular choice.
Angus Elphinstone, founder of delivery auction website Anyvan.com identifies with the 28 per cent of respondents who say they want to be their own boss. ‘This freedom has at times been outweighed by the sheer amount of hours and hard graft I've put into developing the website and building our customer base but ultimately, I've just never liked being told what to do,’ he says.
Elphinstone adds that money can be secondary in the process of starting up. ‘I'd hazard a guess that everyone who starts a small business is driven by the hope that one day they will make their fortune and be able to retire in the Caribbean on a very large yacht, but I'm not surprised that only 14 per cent chose this as their driving factor. Ambition and the rush of being at the forefront of and adapting effectively to market changes is [more] addictive.’
John Antunes, head of SME at business management software provider SAP says that there are many who would love to start their own venture but ultimately don’t want to take the risk. ‘Even if the risk is believed to be worth taking, start-up businesses are now competing in a harsh environment that requires speed of thought and action that reflects this. The ability to respond to business challenges at any time is essential,' he says.
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