Businesspeople who refer to themselves as entrepreneurs may be a dying breed, suggests new research.

Businesspeople who refer to themselves as entrepreneurs may be a dying breed, suggests new research.

According to a survey of 1,200 company owners from business software and services provider Sage, just 4 per cent of small business owners think of themselves as entrepreneurs.  

“Business owner” (53 per cent), “self employed” (26 per cent) and “businessman/woman” (15 per cent) are the most popular terms people use to describe themselves.  

The survey, which explores how business owners perceive themselves and the qualities needed to succeed, also finds that more than two out of three participants (70 per cent) see a person’s vision and drive as key attributes for success and 14 per cent cite numerical or business acumen as the critical requirement.  
 
Almost half of all respondents (44 per cent) believe that an entrepreneur is someone who has ideas that bring innovations to business – a central component to succeed for 14 per cent of those surveyed, but just one in four (25 per cent) associate the term with someone who sets up or runs their own business.  

Lee Perkins, managing director for Sage’s Small Business Division, says, ‘The survey suggests that the current crop of business owners find it hard to relate to the term entrepreneur. They think of an entrepreneur as someone who has innovation in their DNA, but not necessarily the drive or basic business skills to succeed.

‘Ideas are vital, but for a business to discover its true potential the company must be grounded in reality and guided by an owner with a sound understanding of financial information.’  

In addition to the economic factors leading to changing business perceptions, there is a feeling among respondents that the term entrepreneur describes someone who is an ideas generator and somewhat removed from their business. While Sir Richard Branson and Sir James Dyson are seen as hugely successful entrepreneurs, they could also be seen as a barrier to most people identifying with the term entrepreneur.

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