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Small business owners would never work for anybody else
LONDON, SEPTEMBER 2003 - Despite the pressures of tax, long hours, red tape and late payment by customers, the vast majority of the UK's small business owners say they would they would either never work for anyone else or only do so if they absolutely had to, according to new figures from Xbridge, the small business finance experts.
Almost seven out of ten (69 per cent) small business owners would never give up self-employment or would only do so if they were compelled to. Specifically, 42 per cent of small business owners say they would only consider working for someone else if they absolutely had to, whilst a further 27 per cent say they would never work for anyone else. Perhaps in an effort to make ends meet, seven per cent of those who own small firms already moonlight by working for someone else.
Being your own boss is a dream for many workers, and those who have made the leap and started their own businesses clearly believe it's worth it. Fewer than one in five (19 per cent) small business owners say they would consider working for someone else in the future.
Brad Liebmann, managing director of Xbridge, said:
"We constantly hear of the frustrations that small business owners encounter, yet our research shows they still won't consider working for someone else. This drive and commitment shown by entrepreneurs is part of the reason why small businesses are so important to the British economy."
Xbridge asked a representative sample of 1,000 small business owners across the UK whether they would consider working for anyone else in the future.
For more information, including regional statistics please contact:
Matthew Maxwell Scott
Financial Dynamics
020 7269 7193
Mob: 07766 508796
Rebecca Ellis-Owen
Financial Dynamics
020 7269 7112
Mob: 07899 668 853