Branson Beaten for Business Inspiration
(By Mum & Dad)
More entrepreneurs say that they have been inspired by family members than by Virgin tycoon Sir Richard Branson, according to The Pitch.
One of the UK’s longest running business shows has looked at its entrants for The Pitch 2013 and found that more of them are inspired by their family than by eminent entrepreneurs like Richard Branson.
When asked who their business inspiration was, 21% of applicants said mum, dad, uncle, aunt, brother or sister.
Of the applicants, 16% said their inspiration was Richard Branson.
A former colleague was cited by 9% of those asked and the next celebrity entrepreneur was the late Steve Jobs, the inspirational co-founder and CEO of Apple.
Lord Sugar, the host of BBC’s business TV show, The Apprentice, received 4% of the vote.
Fearful Business Issues
When asked about which business issues kept them awake at night, entrants claimed that the fear of failure was the most common reason.
Access to finance was another worry of the budding entrepreneurs as was the notion of coming up with new ideas.
One entrant said:
“Can I really do this? You hear the stats about startups failing to reach their 2nd or 3rd year. I took a massive gamble by quitting a secure job to start my own company so I need it to work out.”
Publicity for small ventures and making businesses more attractive to potential investors were other concerns that the entrants had.
Fifty applicants have been chosen to compete at The Pitch Live in Bristol on the 25th September. The winner will not only receive thousands of pounds worth of business advice but will also have the opportunity to win a share of £275,000 worth of equity investment.
The entrepreneur panel at The Pitch will include Rob Law, founder and Director of innovative travel gear company Trunki, Jon Finch, the co-founder of BBQ culture aficionados, Grillstock, Pat Wood, co-founder of t-shirt vendor Truffle Shuffle, and Katcha Bilek of the eponymously titled sustainable fashion brand.
Tickets to the event cost just £10 and attendees will receive the cost of their ticket back in the local currency, the Bristol Pound, where they can be spent at the on-site pop-up shop or with hundreds of businesses within the city of Bristol itself.
Dan Martin, the editor of BusinessZone.co.uk and founder of The Pitch, said of the findings:
“Despite the high profile nature of entrepreneurs like Sir Richard Branson, it’s not surprising that many small business owners find inspiration close to home. After all, Britain is a nation of shopkeepers!”
On the common business issues, Dan added:
“Fear of failure and access to funding are key concerns for most of our applicants but events like The Pitch 2013 can help deal with that. We are determined to help as many entrepreneurs as possible by connecting them with investors and other people who can help them successfully grow their companies.”
“I urge anyone with an interest in supporting British entrepreneurship to join us at The Pitch Live in Bristol on 25 September.”