Entrepreneurs Defy Economic Downturn
PeoplePerHour.com:
While the credit card and current economic downturn appear to be dominating the media these days, a recent study indicates that over half of all small business owners remain optimistic and do not intend to change their expansion plans.
These were the findings of ‘DNA of an Entrepreneur’, an international study recently released by specialist insurer Hiscox. According to the study, entrepreneurs in most major economies are still optimistic about their growth plans; in the US, for example, a staggering 69% of those asked responded that they will continue with the growth plans for their businesses despite the current unfavourable economic conditions.
Some other interesting findings seem to suggest that many entrepreneurs are still undeterred by the economic downturn:
1. Around one third for UK’s entrepreneurs (34%) responded that they set up their own business in order to make more money that they would working for someone else. 21% identified their desire to make their own ideas reality as their main motivating factor.
2. US entrepreneurs are even more ambitious, with 46% setting up their own business to make more money.
3. Most Dutch and French business owners (74% and 71%) were found to be motivated mostly by the desire to “be their own boss”, compared with a 58% in the UK.
The survey also identified some of the major challenges faced by future entrepreneurs… take a look here.
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