What makes a good entrepreneur? There are many qualities needed for running your own business. However, to mark St. Davids Day, Hiscox insurers conducted a survey of their SME clients from a variety of sectors to reveal some interesting facts and figures.
As well as being hard working, practical, ambitious and determined, there was one thing that many of their client had in common. According to Hiscox’s data, there were more small business owners named David than any other – this was followed by John, Paul, Andrew and Michael respectively.
The SMEs surveyed came from sectors as diverse as media, engineering, recruitment, property and charity, so the name is common across many sectors – yes, it could all be a coincidence, but David has also been highlighted as the number one name for doctors and the number two name for FTSE 100 directors in a recent survey from the Guardian Digital Agency.
Well known ‘Davids’ in the entrepreneurial sense include David Lloyd, of health centre fame, David Karp, founder of Tumblr and David Ross of Car Phone Warehouse. So, is there something in the name for business after all? As much as we’d like to say that being called David was enough to qualify you to run your own business, it’s pretty unlikely that’s the case, much like having another name will serve as no disadvantage.
What would really matter is whether or not the Davids of the entrepreneurial sector were more or less successful, clued up and well organised than others – and we all know that’s down to the individual. However, if there’s evidence that Davids show a penchant for knowing their factoring from their invoice discounting, running well maintained invoicing procedures and knowing how to grow their business, then maybe there is something in the name after all.