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Majority of entrepreneurs happy to be self-employed

14 September 2007
A new study from Abbey has shown that 77 per cent of entrepreneurs in the UK have no desire to return to working the standard full-time jobs they had prior to becoming self-employed.

The findings show that the majority of small business owners would not like to go back to working for someone else, even though they may have faced difficult circumstances.

Managing director of Abbey business banking, Ian Wilson, commented:

“Running your own business can be tough but rewarding.”

“Once people have taken the plunge they are unlikely to want to return to their old lifestyle no matter what problems they may encounter,” he added.

Interestingly, the company found that the East Midlands region was home to the most content entrepreneurs, with 91 per cent of entrepreneurs in the East Midlands claiming they would not want to return to the 9 to 5 grind. However, fewer than half of those in Wales (49 per cent) were totally against returning to standard employment.

Construction workers led the entrepreneurial professions in the happy stakes, with 91 per cent dead set against returning to their previous jobs, followed by those in the catering trade (88 per cent).

Abbey also mention the financial challenges faced by small businesses and emphasise the importance of a good business banking strategy. A number of bank accounts exist specifically for those running their own business.

Find out more about business banking