So-called serial entrepreneurs run almost half of all the small businesses in the UK.
Serial entrepreneurs are business owners who have formed more than one company or business venture that demands their attention.
This type of self-employed people has usually formed more than one company with their own money and can even remember a recent period where they encountered difficulties in their business.
This was the finding of the latest survey made by the NatWest/SERTeam , in which it found out that the UK-wide decline in small business sales has not discouraged serial entrepreneurs.
It also found out at that the difficult times in business has affected the companies of self-employed people either through external economic conditions or losing major customers. The latter being the likeliest case.
It was interesting to note though that businesses that have been able prosper despite financial troubles came out providing the same products and/or services as when they were starting up.
The surveyed business owners also agreed that the Government imposed regulation is posing a big problem to their business ventures. This is a complaint that is being aired by more and more business owners.
The NatWest/SERTeam survey further reinforced the argument making the big decision to go into self-employment would mean “risking it all”. This is evidenced by the stories of majority of company founders who have used their personal savings, redundancy funds or the sale of a car to form their company.
Business solutions experts say that a confident attitude about business helps in ensuring business success.