'My Pleasure', say Britain's entrepreneurs
28 March 2007
With the third series of 'The Apprentice' set to place enterprise and entrepreneurship at the forefront of the minds of millions of television viewers during the coming weeks, research from MasterCard Global Commercial Products reveals that a sense of self-fulfillment is a key motivator for the overwhelming majority of small business owners in the United Kingdom.
The survey, conducted by independent research company KRC, reveals that 95 per cent of British entrepreneurs cite the opportunity to achieve their own personal development by being in control of their future as a major incentive for 'going it alone'.
The same proportion (95 per cent) highlight the opportunity to enjoy sufficient income to secure a future for themselves and their families as a major motivating factor. Ninety per cent of respondents also revealed that the opportunity to seize control of their own destiny rather than relying upon decisions made by others had influenced their decision to set up in business alone.
Commenting on the findings, Tuuli Perkio, vice president, Small Business Market, MasterCard Europe says: “The search for The Apprentice is set once again to captivate the nation and provide us with another timely reminder of the British public’s traditional admiration for successful entrepreneurs.
"Many Brits clearly regard breaking out of the large-corporate working environment and working for themselves instead as not only an attractive lifestyle change but also one which will help them to achieve their own self-development aims and aspirations."
The research also reveals that sixty-one per cent of UK small business owners claim their main motivation for setting up a company is to build something that can be passed on to future family generations, while only just over half (51 per cent) of UK company owners said they saw founding a business as a means of achieving peer group recognition.
Meanwhile, the good news for those contemplating launching their own business is that the experience is regarded as a positive one by more than three-quarters (80 per cent) of those who have already taken the plunge saying running their own company is as fulfilling as they had anticipated it would be.
However, the research findings also serve as a timely reminder that setting up in business is by no means an easy option, with UK owners working an average of 54 hours per week.
Tuuli Perkio added: "Whilst going into business for yourself is a great opportunity to create a work-life balance which suits your individual needs, it certainly isn't a soft option.
"The UK's entrepreneurs work extremely hard and the increased public focus afforded to their efforts through programmes such as The Apprentice is certainly a good thing."
