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Individual entrepreneurial skills important to SME success

Feb 18 2008

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Entrepreneurial skill matters more to the survival of SMEs, compared with any support mechanisms in place, claims one business expert.

Startupco.co.uk states, that while there are some exceptions, the success of a small business can depend more on the individual starting the company than any form of support that is available.

John de Groot, director of StartupCo, says that nearly half of businesses fail in the first three years, but with the ones who survive, 'it's the individual that makes the difference, not how much external support they get'.

He adds that in macroeconomic terms it makes no difference at all, as the failure rate of businesses have not changed dramatically over the years.

Meanwhile, the Welsh Assembly has recently announced a £150 million fund is to be made available to assist the development of SMEs in the area.

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