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SME owners more chance of making a million than 'pop star'

Dec 14 2007

Entrepreneurs who set up their own business have a one in 200 chance of making a £1 million within two years of starting up, according to research from business experts.

Barclays Local Business says that starting a business is 'a better bet' for achieving an 'A-lister' lifestyle than pursuing a career in the 'so-called glamour industries'.

John Davis, marketing director for Barclays Local Business says: 'This research confirms that although running your own business might not seem quite so glamorous as show business and sport, hard work and determination in traditional business is much more likely to be rewarded by real tangible success.'

Budding entrepreneurs should be encouraged to follow their aspirations by the sheer volume of successful businesses, he added.

More research from Barclays Local Business has revealed that almost 47 per cent of 2,500 entrepreneurs questioned were the elder brother or sister of a family.

Only 27 per cent were the youngest while 15 per cent were an only child.

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