Fear of Going Broke Keeps Would Be Entrepreneurs Employees

Just finished reading an article that said there would be a lot more entrepreneurs in the world if the fear of going broke wasn’t a potential outcome.  Sign me up for the benefits. Independence.  Freedom to decide when and where to work.  I’ll even take less money, but this going broke thing is a problem.

According to a 2012 survey conducted for the European Commission by TNS Custom Research, 51 percent of Americans would rather be self-employed and 44 percent think it would be possible for them to go into business for themselves within the next five years — a figure that has increased 8 percentage points since 2009. But despite the relatively large number of Americans who want to be in business for themselves and believe it feasible in the near future, relatively few would-be entrepreneurs actually take the initiative.

When asked to identify what would-be entrepreneurs most feared about starting a business, the top responses were a fear of going bankrupt (38 percent) and a fear of irregular income (37 percent), which amount to a significantly larger sum than those who feared personal failure and losing job security.

My question is how do you define a “would be” entrepreneur? If you are not an entrepreneur are you a “would be” entrepreneur? Fear of going broke never crossed my mind when I started my business.

Read Full Article Here.

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