With the news that 25% of entrepreneurs regret becoming their own boss, Ventas Central looks into why some entrepreneurs feel this way and discuss how, if they were receiving more support, this may never have been the case.
A recent survey has revealed that around a quarter of bosses, at small to medium sized enterprises across Britain, regret setting up their own company. Out of the 732 British SME owners surveyed, 25% said they regret becoming their own boss, but 82% said they would still not consider working for someone else. The poll only surveyed companies that had been set up within the last three years. Worryingly, two fifths of these SME owners are already finding themselves in financial trouble and a third said that they simply can't get enough business or customers to survive.
Ventas Central points out that launching a business is always a massive risk, whether it's for the first time or the entrepreneur already has a whole portfolio of successful businesses. Failing doesn't necessarily mean failure, as long as people learn from their mistakes and try again. But Ventas Central says that business owners are not being offered enough support to know how to get it right the first time. Many business owners found that they didn't understand the economy or their market well enough. But others found that they simply had no idea how much to charge for their services or products which put them out of pocket. Ventas Central has found that most business owners, who regret their decision to work for themselves, regret it due to financial errors.
Ventas Central believes that networking and mentoring could be the solution and that more entrepreneurs need to know where they can find support networks and funding so that they enjoy running their business. Networking gives a business owner the opportunity to connect with like-minded business people who may have already been in their position and can offer advice. It also provides a chance to learn new skills that can be implemented within the business. Entrepreneurs should attend as many business conferences, workshops and events as possible to make the most of these networks. This can also provide the business with a good reputation and a list of important contacts that can offer business or advice.
It is important that SME owners receive the support they need because they are crucial to the success of the economy. New businesses provide more job opportunities and raise employment levels. If these businesses fail then several people may be thrown back into unemployment and consumer spending will also suffer.
Ventas Central is an outsourced sales and direct marketing company located in London. The firm run personalised and unique campaigns that successfully market their clients' products/services to improve their customer acquisition, brand awareness and brand loyalty. Ventas Central connects directly with consumers through face-to-face engagement in order to create long-lasting and personalised campaigns. The firm works with several small businesses and provides this service on a 'no win – no fee' basis to guarantee a high ROI and to help their clients' businesses be as successful as possible.
As well as supporting small businesses Ventas Central also run a Business Development Program in order to support aspiring entrepreneurs. The program teaches all those involved with the company the skills needed to run their own business including, sales techniques, decision making and leadership skills. Ventas Central understand the importance of supporting small businesses and entrepreneurs and urge more people to do the same as they are vital for the economy.
Press release distributed by Pressat on behalf of Ventas Central, on Monday 20 October, 2014. For more information subscribe and follow http://www.pressat.co.uk/