The decision to start a business is a daunting one, but new research shows that the overwhelming majority of SME managers feel properly rewarded for the risks they have taken.
According to a new study by insurer NIG, 60 per cent of sole traders and SME senior managers believe that they have been sufficiently rewarded for risks they took in founding and running a small business.
The survey of 600 SMEs also found that entrepreneurs feel their efforts are recognised by their peers and communities, while nearly three-quarters of those questioned feel valued for the role that they and their business play in society.
Says Steve Kingshott, director of Underwriting and Pricing at NIG: “We wanted to know whether people who started or run a small business feel the benefits they gain are a fair return for the risks they take. The answer among those whose businesses survive is clearly yes.
“Not only do they believe they have been rewarded financially, but they also perceive that their personal efforts are looked upon positively by their communities. This is a reassuring finding for anyone thinking of starting out on their own.”