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Entrepreneurs 'feel more respected'

Date 22 Jun 2007
Author The Editor
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Entrepreneurism in the present day is almost unrecognisable compared to the early eighties, a new study has found. Research by the London School of Economics and Shell Livewire reveals that entrepreneurs feel more respected now than at any time during the past 25 years. According to the figures, profit is no longer of paramount importance for entrepreneurs – only 50% of entrepreneurs surveyed said making money was their number one priority. Now, entrepreneurs’ main motivation is to create fun and dynamic teams, cultures and lifestyles.

Entrepreneurs’ role-models are those renowned for social consciousness and style – the Innocent founders, Richard Branson and dot-com success stories are frequently mentioned as heroes of today’s entrepreneurs. When asked which entrepreneur they preferred – Richard Branson or Alan Sugar – 84% voted for Branson. The results of the survey showed that today’s entrepreneurs see themselves as being mainstream, and that entrepreneurialism as a career is no longer considered especially maverick or heroic.

James Smith, Chairman of Shell UK said: “For 25 years, Shell Livewire has been successful in helping young people start businesses. Shell has always recognised the important role innovative, young people play in creating an entrepreneurial society in the UK. They are an inspiration to us all, both within Shell and in the wider community. I’m delighted Shell Livewire has stood the test of time and this study is a fitting tribute to mark its 25th anniversary.”

The full report can be downloaded at www.shell-livewire.org/25yearsonsurvey (Adobe Acrobat PDF format).

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