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The perfect age to start your business
The typical entrepreneur in the UK set up their first business at the age of 35, but wishes they had started at 29, according to a survey from Abbey Business Banking. Most business owners took the entrepreneurial plunge after holding junior, rather than management positions within companies, the survey finds.
The overwhelming majority quit their existing job before setting up their own business, with only one per cent working for someone else on the side.
Less than half of respondents (44 per cent) say they work more hours since setting up on their own. However, about one-fifth (22 per cent) work 60 hours or more, with a tenth (ten per cent) of all respondents admitting they ‘live to work’ rather than ‘work to live’.
The survey was conducted by ICM, which questioned 255 owners of small and medium-sized enterprises.
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