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Entrepreneurial traits revealed

Article Date:  Aug 14 2008

Six out of ten entrepreneurs in the UK were the first born in their family, according to research into the characteristics of successful business owners. A third of respondents started their company between the ages of 26 and 35, while two-fifths did so in London.

The 843 business owners questioned believe traits like reliability (43 per cent) and being a good listener (22 per cent) are more typical of the successful entrepreneur than self-confidence.

Steve Jennings, director of business banking at Alliance & Leicester, which conducted the research, says that the research shows that some types of people are more likely to take the plunge into business than others.

He adds, ‘The secret of any successful business is remembering to temper bravery with prudence.’

Entrepreneurs are not typically from privileged backgrounds, the survey suggests. Nearly three-quarters (71 per cent) of business owners attended state schools, while more than nine out of ten describe themselves as either middle class (50 per cent) or working class (43 per cent).

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