MORE SCOTTISH BUSINESSES BORN OUT OF JEALOUSY ACCORDING TO NEW DATA

One in five businesses in Scotland were started because founders were jealous of their former boss, according to new research, with entrepreneurs desperate to experience the freedom of their own business.

Start My Business, a business launchpad platform, commissioned the polling of 500 UK SME owners and senior decision makers, via Censuswide, to observe what fuelled entrepreneurs to start their business.

The research revealed that 20% of Scottish business owners started their business because they were jealous of their former boss, especially entrepreneurs under the age of 35 with 40% citing jealousy as the main reason for starting their business.

One in three (67%) Scottish entrepreneurs admitted to wanting more power and control than they could get at their previous job.

It was also discovered that 57% of Scottish business owners admitted to enjoying telling other what to do and hated answering to people above them in their former jobs.

Jealousy of a former boss even sparked over 24% to consider a hostile takeover in their former company, prior to founding their current business.

Shoaib Aslam, Founder of Start My Business, commented: “There are many reasons for entrepreneurs to launch a business, and the freedom of being your own boss is appealing for many.

The flexibility to make your own decisions and run a company the way you want to, without answering to anyone, is liberating and one which all entrepreneurs benefit from experiencing.”

He added: “But a business cannot be formed out of jealousy alone. Launching a company requires careful planning, involving core business checklists and research into digital tools and services, in order to be successful. Particularly for younger entrepreneurs, guidance and support from fellow business owners, and even business mentors, can be an invaluable resource to help get a business of the ground and start to grow.”