Appetite for wealth needed for successful start-ups
Ambition, high motivation, a strong desire to be an entrepreneur and an appetite for personal wealth are key qualities for those running start-ups, according to a survey.
The research, from BDO Stoy Hayward, says 50% of respondents were motivated by entrepreneurship, while 54% cited a desire to create capital.
It also revealed 54% of start-up owners were initially motivated after identifiying gaps in a market, while 79% were most motivated by the desire to capitalise on personal knowledge.
Bob Rawkins, senior partner at BDO, said: ‘It is impossoble to put forward a blueprint for how to become a successful start-up, but this research provides us with a general profile of those start-ups which stand the greatest chance of survival beyond the first three years.’
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