One in Five Small Business Owners Previously Fired

One in Five Small Business Owners Previously FiredFindings from accounting software firm Kashflow sheds light on a fact that connects 20% of the country’s entrepreneurs…

Research has revealed that as many as one in five small business owners had been fired from previous jobs before starting up their own business.

The research, commissioned by small business accounting software firm, Kashflow, was compiled from the feedback of 1146 businesses across the UK in order to better gauge user needs.

The SME survey also found that

  • 44.2% of business owners started up on their own because they were “sick of their jobs and could do better themselves”
  • 37% had recognised a niche idea or found a gap in existing markets
  • 7.6% started their own small business because of redundancy and
  • 5.4% revealed there was no alternative as they could not find work elsewhere

The results of the survey seem to have identified a difference in the mindset of the small business owner and the regular 9 to 5 worker, thus helping the accounting software firm develop their strategy to help entrepreneurs work more successfully.

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