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Entrepreneurial flair

Survey shows entrepreneurs could be an untapped resource in the workplace
Workers who show signs of distraction at their desk or in business meetings are a mass of untapped, entrepreneurial talent, according to a recent survey.
Barclays Local Business' survey shows that workers who are often 'away with the fairies' are likely to leave and start their own business, as nearly half of today's UK business bosses (44 per cent) admit to having plotted their entrepreneurial future while daydreaming in the workplace of a previous employer.
The survey, taken from research carried out by YouGov sampled 2,427 SME owner/managers from across the UK.

Although an increasing number of bosses are paranoid about employees wasting time at work on social networking sites like Facebook, it appears they cannot stop employees from dreaming of
a more productive and satisfying future in their working life.

Only 8 per cent of people interrupted their holidays to come up with a killer business idea, and just 6 per cent were prepared to think about being their own boss in between pints at the pub. Almost 40 per cent of UK business bosses view common sense as the winning ingredient for ongoing success.

For employers there is nothing more frustrating than letting untapped talent slip through the net as staff showing entrepreneurial signs provide huge benefits and help small, medium or larger companies grow. Perhaps it will serve as a warning to any boss that they shouldn't take their eye off the ball when it comes to keeping their staff interested and engaged, and developing their people, John Davis, marketing director for Barclays Local Business.

However, despite many leaving their jobs to set up their own businesses, another recent survey shows that Britain's entrepreneurs are at risk of being stifled by the fear of red tape and failure.

A survey of 2,000 people carried out on behalf of law firm Dickinson Dees by YouGov reveals 45 per cent of people who have thought about setting up their own business are put off by legal requirements.

There is a plethora of advisory services available to those looking to start a business, but the current environment is one in which potential entrepreneurs are being put off at the first hurdle.

More needs to be done to discourage the fear of failure and encourage the culture of calculated risk-taking, said Robin Bloom, senior partner with Dickinson Dees.

Failure is another worry - 29 per cent of 25 to 34-year olds were concerned about their venture failing.

Our research is particularly worrying in terms of the high number of young people being too afraid to set up a business. This country cannot afford to lose its competitive edge and entrepreneurial flair because of the reams of red tape and fear of failure suffocating innovation. We must act now, or find ourselves lagging further and further behind those economies which cherish their entrepreneurs, added Bloom.

16th October 2007


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