Start-ups must ‘really understand’ realities of business

People considering building up their own businesses need to remember that 'it is a risk', according to the Federation of Small Businesses (FSB).


People considering building up their own businesses need to remember that ‘it is a risk’, according to the Federation of Small Businesses (FSB).

People considering building up their own businesses need to remember that ‘it is a risk’, according to the Federation of Small Businesses (FSB).

A spokesperson for the FSB explains that often the desire to be one’s own boss can ‘blind people’ to the realities of the challenges which may lie ahead.

‘You have to make sure that you really understand what you’re getting into before you do it, no matter how enthusiastic you might be or how much you might want to be your own boss,’ he comments.

Being an entrepreneur is a ‘lifestyle choice’, he adds.

Research by Barclay’s Bank has shown that more people are starting businesses than ever before.

In 2007, people began more firms than in any period since their records began in 1988.

The North East and the West Midlands saw the biggest increase – a rise of 11 per cent in the number of start-ups.

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