Over a third raised seed capital from their own resources, with 16% of these re-mortgaging their own property. Venture capital firms funded 28% while bank loans or personal contacts financing around 20% each.
A distinct regional pattern emerged, with those in London and the south preferring the stock market route, Midlands entrepreneurs relying on bank loans and venture capital, and Scottish entrepreneurs most likely to be lent money by friends or collaborators.
About one-third of the 500 surveyed were on their second or later venture. The vast majority – 80% – had started their own firm from scratch while only one in 20 had inherited or married into their company.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements