smallbusiness.co.uk: Helping your business think big

The decision to start a business is a daunting one, but new research shows that the majority of SME managers feel properly rewarded for the risks they have taken.

According to a new study by insurer NIG, 60 per cent of sole traders and SME senior managers believe they have been sufficiently rewarded for risks they took in founding and running a small business.

The survey of 600 SMEs also found that entrepreneurs feel their efforts are recognised by their peers and communities. Nearly three-quarters (72 per cent) of those questioned feel valued for the role that they and their business plays in society.

Carol Undy, national chairman of the Federation of Small Businesses, says: ‘Setting up and running a small business is one of the most rewarding and satisfying things you can do. There are frustrations along the way, but many small business owners value the sense of responsibility they get and the ability to take control of their own working lives.’

Looking at individual business sectors, the belief in having received sufficient reward is strongest in the finance sector at 71 per cent compared with the cross-sector average of 60 per cent. And regionally, the South East of England contains the highest percentage of satisfied entrepreneurs (66 per cent) while Scotland contains the lowest (48 per cent).

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