Entrepreneurs 'glad they risked it'

27/03/2008

Most British entrepreneurs are glad that they took the risk of starting out in business on their own, according to a recent study.

In fact, almost nine in ten of the people polled by Abbey indicated that they would take the same chance again if they were in a similar situation.

Many small businesses use debtor finance and invoice discounting to fund their early stage activities and the majority of those quizzed said they had been able to achieve their initial goals or are close to doing so.

The study also discovered that 44 per cent of British business owners work longer hours than was the case when they were employed and close to a quarter are in the office for up to 60 hours each week.

"If you put the hours in it seems that for the majority of entrepreneurs their goals have been realised," said Paula Ickinger head of business banking at Abbey.

Last week, a report from Creditman revealed that an invoice discounting deal had enabled the management team at the Yorkshire-based Academy Print Solutions company to buyout the business.