Is starting a business as exciting as the birth of a child or getting married?
Barriers to business successSmall business owners named making the right hires, 32 per cent, the inability to switch off, 29 per cent, and late payments, 29 per cent, as their biggest barriers to success. The majority resort to enlisting friends or family to work for their business, because they can trust them, understand each other and know they will be committed. Xero also found that entrepreneurial spirit is getting younger, revealing 20 as the age that young business owners between 18 and 34 decided they would like to set up shop compared to those aged over 45 who had the same lightbulb moment at 35. In fact, almost seven in ten new businesses set up in the past five years have been started by those aged between 18 and 34 years old. Commenting on the findings, Gary Turner, co-founder of Xero, said: Small business owners don’t always have an easy run of it. But, despite this, every day I see just how passionate and eager they are to turn their dreams into realities. while this passion is fantastic, it will only get you so far. We know that survival rates of small businesses with watertight business plans and the right processes are far greater than those who fail to put the right provisions in place so it would be a huge shame to see this enthusiasm go to waste.” The owners also named Bill Gates as their favourite living business icon followed by Richard Branson and James Dyson. __________________________________________________________________________________
The ten best startup ideas for under 10, 000 you can launch today Here, Business Advice reveals ten of the best startup ideas that can be launched almost immediately within a modest investment of under 10, 000. __________________________________________________________________________________