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Entrepreneurs and the Economy

Entrepreneurs are one of the most important parts of the UK economy – and according to experts, more needs to be done in order to nurture entrepreneurs and stimulate more innovative start ups. This will not only lead to more businesses trading within the UK economy, but will also lead to more growth and perhaps greater business confidence. But what do the experts really think?

The recent Smith and Williamson Enterprise Index set out a snapshot of the UK economy from the perspective of the wealth creators of the country. This survey has shown that entrepreneurs are in general optimistic about their economic prospects for the next 12 months.

Guy Rigby, Head of Entrepreneurs at Smith and Williamson, commented; “In the face of continued economic uncertainty a huge 85% of respondents are optimistic about their prospects for the next 12 months — and of these 44% are very optimistic,”

“Entrepreneurs are almost by definition optimistic — if you don’t believe that you can succeed you shouldn’t start in the first place — yet despite their optimism, according to the survey, only 41% of respondents have a greater appetite for borrowing than 3 months ago.”

Luke Johnson, serial entrepreneur, has also talked of the emergence of a ‘renaissance man or woman’ who would have three or four business ventures throughout their career. These views represent a changing society where it’s no longer the norm to finish university and then work within one company or career. Johnson believes it’s the young entrepreneurs looking to succeed within the business sector that will drive the economy forward – and it’s these individuals that could need to extra business support. As the man behind the Pizza Express Chain and with an estimated fortune of £120 million, Johnson seems like he should know what he’s talking about.

 

 

 

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