Research reveals what it takes to run your own business

Do you think you have what it takes to run your own business? Now you can find out.

New research has unearthed what it takes to be a natural business owner, with traits such as passion, confidence and being able to rise to the challenge as just some of the attributes needed.

Being a natural leader and having a strong character were also cited as must-have characteristics, with determination ranking high for people looking to turn an idea into a fully-fledged business.

The survey of 800 British small business owners and 800 British full-time employees revealed that small business owners are twice as likely to love their job and be passionate about their work than full time employees.

And they are also more likely to cite love of the job and achieving work life balance as their primary career motivation, whereas full time employees are twice as likely to cite “wanting to be liked”.

Oliver Harcourt, Head of Vistaprint UK, which commissioned the research, comments: “We speak to small business owners every day and overwhelmingly these passionate individuals have positive stories to share.

“The survey highlights some of the benefits that can be achieved when starting your own business, whether it’s more time for your family, the ability to evoke change in your community or a renewed love for your job.

“We want to encourage people to be bold and live their dream.”

Almost three times as many small business owners strongly agree their job is flexible, with their working hours averaging a mere 33.3 hours a week compared to 39.4 for full time employees.

And when compared to full time employees, small business owners have significantly more independence, passion for their job and achieve a better work life balance.

Twice as many small business owners than full time employees cite love of the job and achieving work life balance as their primary career motivation over making money.

And three times as many small business owners say their work is flexible compared to full time employees.

It’s easy to see why over a third of full time employees say they have plans to start their own business in the future.

Think you have what it takes? Find out here.