New YouGov survey finds one in ten UK small business owners is more passionate about their business than their significant other
21st February 2006 - London, UK – A new survey has found that more than one in ten small business owners is more passionate about their business than their relationship. And those most likely to put business before partners? Male entrepreneurs and small business owners in London.
The survey, conducted by YouGov for Intuit, maker of QuickBooks, asked more than 500 small-business owners and directors what motivates them. In addition to the more than 10 percent who put business before partners, the survey found that half of all respondents felt as passionate about their business as they did about their relationship with their partner. Female entrepreneurs are more likely to give their relationship and their business equal attention. "Setting up my own business has changed my perspective on potential relationships," says Cem Mustafa, co-founder of Muncho, an online lunch delivery business in London. "Most of my energy and passion is now going into making my business a success and any future partner would have to be understanding and supportive of that," he added.
“This survey lifts the lid on the passion behind the small enterprise in this country. There is no simple stereotype of the person who decides to start their first business. Entrepreneurial spirits are flying high in the UK and we are enthusiastic and committed to helping small businesses grow with solid financial foundations”, said Susan Lazareff, managing director for Intuit UK.
The survey found that passion for business went hand-in-hand with a desire to gain freedom and autonomy at work. These were the main motives that encouraged 65% of individuals to take the plunge and be their own boss.
The research also found that people were most likely to start their own business in their 30s. However, there is an age divide with 15% of people aged 50 years and over taking time to break out of existing jobs and set up business in their mid to late 40s. A number of younger entrepreneurs set up their business in their early 20s and some even in their late teens.
The motivations are different too according to age. Almost half of small business owners, (47%), aged 18-30 set up their small business as a means to turn a hobby into a career rather than to make money. The majority of small business owners over thirty said their primary motive was freedom and flexibility at work (64%). Being unhappy at work and retirement prospects were the main reasons for ‘going solo.’
Research was carried out by YouGov, from 20th to 24th January 2006, with a total sample of 545 small business entrepreneurs.
Small business people include Owners, Founders, Chairman, CEO, Directors, Managers in companies with between 1 and 500 UK employees.
About Intuit UK
Intuit UK is a leading provider of business and financial management solutions for small businesses and their advisors including accountants and book-keepers. Key products and services include the popular QuickBooks family of business accounting software and QuickBooks Small Business Payroll and Exceed support among other services. These are available directly or through major retailers and partners including High Street banks. Intuit works with the industry through its QuickBooks Professional Advisors Programme and Intuit Developer Network to serve the accounting needs of small enterprises nationwide. Intuit UK is headquartered in Maidenhead, Berkshire. Intuit UK a subsidiary of Intuit Inc., and is quoted on the Nasdaq stock market under the symbol INTU. For more information on Intuit and its partners visit: www.intuit.co.uk and www.quickbooks.co.uk/advisors.
About YouGov plc.
Founded in May 2000, YouGov is a professional market research agency pioneering the use of the Internet and information technology to collect higher-quality in-depth data for market research and public consultation.
YouGov has pro-actively recruited respondents from all ages, socio economic groups and regions of Britain. The sample for each survey is carefully selected and controlled so that it is representative of the adult population as a whole - or the specific audience that the survey is designed to measure.
For UK Inquiries:
Funda Cizgenakad / Helen Ablett
Tel: 020 8322 1922
Fundac@gbc.co.uk / Helena@gbc.co.uk
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