Everyday, more and more people venture into starting their own business. Some succeed while a bunch of others fail, whether it be at the early stages of their existence or further down the line. Comparing the failure and success stories, we are bound to notice a pattern as to why some businesses fail while others succeed in the same economic situations.
The people at UK’s Global Entrepreneurship Mentor, Office of National Statistics and Barclays Research joined forces not long ago to study businesses and entrepreneurs to see know what makes them tick. Not only that, they also studied individuals to see what has presented them from making a leap into business despite them having long term dreams to do so. They found that 36% agreed that fear of failure kept them from exploiting the business opportunity they see and 25% of entrepreneurs admitted their expectation of growth has lowered considerably.
View the infographic below to get the full detail of the report: