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6 out of 10 Entrepreneurs are in Full Time Work When They Start Their Business

IoD99

It began as a pilot scheme at the end of 2014, with only 99 applications accepted. Due to the success of the initiative, IoD took the decision to accept 99 new members every quarter during 2015. Members benefit from IoD support and advice, as well as free networking events with fellow IoD99 members.

In recent weeks IoD99 conducted its first survey on young entrepreneurs. After conducting interviews with 650 entrepreneurs aged under 35. You can see below the key findings taken from the full report, which you can view in its entirety.Entrepeneur

Report Findings

42% had trouble hiring people with right skills.

39% stated that accessing finance was a potential barrier to growth.

53% said that finance money from parents has been instrumental in starting their business, with 45% borrowing money from friends

56% Used unsecured finance

6 in 10 Entrepreneurs were in full time work when they started their business

21% Said the main reason for starting a business was to have a positive social impact.

22% wanted to work for themselves

36% Said their main reason was to build a successful business

Aspiring Leaders: Begin Your IoD Journey With Us Entreprenuer

We offer a range of courses designed for young leaders and directors, including our popular 3 day Aspiring Leaders Programme. The course focusses on developing leadership skills, providing young professionals with the tools to make key behavioral changes. For directors we offer the full Certificate Programme and Diploma here in the North West,  which consists of short practical courses employing blended learning techniques which explore many critical issues facing today’s senior professionals.

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