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Annie Hayes

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Being ‘fired’ is secret of success

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Disgruntled workers are among some of the top British entrepreneurs, with almost a fifth of small business owners founding their company after being fired from a previous job.

Other entrepreneurs have left of their own accord, according to research by accounting software company Kashflow, which revealed 44 per cent of respondents were driven to start their own business because they were sick of their existing job and felt they could do it better themselves.

After frustration, the second biggest motivating factor was opportunism, with 37 per cent identifying a gap in the market that prompted them to go it alone. Only 8 per cent of entrepreneurs set up their own business due to redundancy, while 5 per cent said it was because they couldn’t find a job.

Duane Jackson, managing director of KashFlow, believes the results clearly set entrepreneurs apart from the average employee. “The fact that nearly 20 per cent of small business owners have at some time in their career been fired really made me sit up and wonder if there is a potential culture clash between the SME owner and the typical nine-five brigade,” he said.

Once they had taken the plunge, 16 per cent of entrepreneurs agreed online business advice forums such as UK Business Forums were the most helpful.

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Annie Hayes

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