There has been a rapid rise globally in the number of people who have stepped away from employment and set out on their entrepreneurial journey. Roger James Hamilton explores the entrepreneurial mindset.
In the US the number of new business applications has doubled over the past decade. In the UK new businesses increased by 14%, even in an economic downturn.
There’s an argument that says the pandemic has pushed more people into starting their own businesses as they were forced to work from home or made redundant. However, becoming an entrepreneur is more than just a little side hustle – even if that has been the starting point for many people.
It’s not a secret that there’s a high failure rate for new businesses. The figures report that around 60% of new businesses don’t make it past year three. And that’s down to how a new business owner thinks and, subsequently, the strategy they follow.
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