A new study released today has revealed that 23% of entrepreneurs in the UK launch start-ups with an exit strategy as a main aim, with 89% saying it was to make a profit and the remaining 11% admitting they get tired of working in the same sector for too long.
Entrepreneurs aren’t always starting passion businesses with longevity in mind, with more than 1 in 5 admitting that they launch start-ups with eventually selling up as one of their main aims.
Further research has found that of those who have selling up in mind when launching, just over half (52%) regret selling at least one business in the past.
The team at Jazoodle conducted the research in a bid to further understand the habits of entrepreneurs based in the UK. A total of 989 adults, aged 18 and over, were quizzed as part of the study, with all recipients revealing that they were an entrepreneur who had launched at least one business prior to questioning.
Andrew-Paton Smith, creator of Jazoodle commented on the results of the study: “Launching a new business is terrifying for first timers, but by the time you’ve done it more than once, it becomes easier. If you have confidence in your idea and you think it will sell for lots of money later on down the line, then there is no issue in launching something just to sell it off. It’s important to ensure you are completely aware of your business’ valuation though and that you aren’t getting ripped off during a sale.”