The Truth Behind Starting Your Own Business

Have you always wanted to
start your own business, but never had the courage to take the plunge?

You are not alone. Often it takes a life-changing event such
as redundancy, coming into an inheritance, or starting a family to turn
a business dream into reality.

Unsurprisingly, losing your job and getting a payoff is the
most common catalyst for aspiring entrepreneurs, according to new
research from Royal Bank of Scotland.

About 17 percent of business owners said that redundancy had
forced their hand and encouraged them to become their own boss, while
one in 10 inherited their business.

Divorce can also be a spur to setting up your own company,
particularly for women as they enter a new stage in life, often boosted
by a pot of money from the settlement.

However, 38 percent of owners said they were most motivated by
a desire to be their own boss.

Dr. Julia Rouse, a research fellow at the Manchester
Metropolitan University Business School in England, has investigated
business start-ups.

"There are certain
trigger events that can be relevant," she says.

"Individuals have to spot an opportunity, which must coincide
with them
having the necessary resources. And it also has to be the right time in
their personal lives."

Tony Brentford, 41, who has run several types of business, now
operates a chain of four children's nurseries called the Alphabet Group
in the Nottingham, England, area.

Tony, from Newark, England, near Nottingham, says that he
always aimed to work for himself.

"I wanted both the financial stability and the freedom," he
says.

"Working for myself has always been the driving force. But you
have to be prepared to take risks."

Source: Daily Mail.
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