Friday, 22 June 2012 09:57
The term "entrepreneur" is too far removed from the reality of business in the 21st century, research shows.
British entrepreneurialism is thriving, yet those who refer to themselves as entrepreneurs may be a dying breed, according to new research. In the current challenging economic climate just 4 per cent of small business owners think of themselves as entrepreneurs.
At a time when entrepreneurs are regularly cited as the key to revitalising the UK economy, Sage’s research has revealed that the overwhelming majority of people on the front line of this revolution feel no connection with the term.
The research of more than 1,200 business minds found that "business owner" (53%), "self employed" (26%) and "businessman/woman" (15%) are the most popular terms people use to describe themselves, underlining the very gritty and real nature of running a business in 21st century Britain.
The survey also found that over two out of three participants see a person’s vision and drive as key attributes for success and 14% cite numerical or business acumen as the critical requirement.
The research also highlights the strong link between entrepreneurs and innovation in the mind of 21st century business owners. Almost half of all respondents believe that an entrepreneur is someone who has ideas that bring innovations to business – a central component to succeed for 14% of those surveyed, but just one in four associate the term with someone who sets up or runs their own business.
In addition to the economic factors leading to changing business perceptions, there is a feeling amongst respondents that the term entrepreneur describes someone who is an ideas generator and somewhat removed from their business. Whilst Sir Richard Branson and Sir James Dyson are seen as hugely successful entrepreneurs, they could also be seen as a barrier to most people identifying with the term entrepreneur.
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