From My Finance Expert

Over a million prompted to consider their own entrepreneurial ideas

Posted in: Business Finance and Insurance
By Brian Rogers
May 28, 2008 - 10:21:01 AM

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Over a million prompted to consider their own entrepreneurial ideas
The television show ‘The Apprentice' could inadvertently be responsible for a whole new generation of wannabe entrepreneurs, according to new research from Direct Line for Business.   Despite being a competition to earn an apprenticeship under Sir Alan, over a million viewers (16 per cent**) said the show made them consider their own entrepreneurial ideas.

Bosses beware...

Viewers - of whom there are 6.4 million** - indicated that the show has evoked some potentially life-changing reactions:

  • 18 per cent realise they want to go it alone
  • 12 per cent want to start their own business or become their own boss
  • 11 per cent want to escape the rat race or avoid big companies
  • Five per cent realise they are fed up and that it is time to move on from their current job

Furthermore, for those not looking to change roles, 10 per cent would like to work from home and three per cent now want to ask for a pay rise!

Not impressed...
Despite gripping millions of viewers every week, 13 per cent across the nation believe they can either do as good a job, or even better than Sir Alan's candidates: however, it is unlikely they will all step forward for the challenge for next season which requires quitting their current job.

Kate Syred, Head of Direct Line for Business, comments: "Starting up your own business can be both challenging and exciting.  Whether you're inspired by a brilliant idea, the lavish rewards shown on the show or simply the desire to be as rich as Sir Alan, it is easy to underestimate what it really takes to run your own business.  Only time will tell whether the seeds sown during the show grow into anything concrete but undoubtedly the adventure will be re-invigorating.

"Being your own boss means taking responsibility for any number of things from equipment such as computers, phones and broadband connections to public liability. Research is key: make sure you know what you're taking on particularly if it might be risky. Confusion is rife, for instance many people who set up a business from home believe their standard home insurance will provide cover, when in fact it won't.  Loss of specialist business equipment or even loss of income would for example not be covered."

*The research was carried out on behalf of Direct Line for Business by Opinium Research LLP.  A nationally representative sample of 1,990 UK adults was questioned online between 20 and 25 March 2008.  Results are weighted to be representative of the UK adult population (48 million GB adults)

** First episode viewing figures, reported on Brand Republic, 27th March 2008


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