Why people start a business
There are lots of reasons why people want to start their own business, here are some of the most popular;
Financial reasons - That is people want more money. They may not be able to get employment and see starting a business as an option, alternatively they may want more money than they are getting in their current employment. Alternatively they want to make lots of money and believe this can be accomplished by starting up their own business.
The right product/service - They have invented or come across a product/service that they believe will sell well and starting a business is a means to selling that product.
They want more - Typically these are high achievers who are not being fulfilled by their current employment, they want more responsibility, more challenge, more recognition and more rewards.
Redundancy - They have recently been made redundant and can’t find a job, they have some severance pay and starting their own business seems like a good idea. This is especially true if they thought they had a job for life.
They need more of a challenge - They have been in employment for a while and its no longer challenging. Typically at the start of any new job you learn a great deal and feel more challenged but as the years go by its starts to feel repetitive and there is less to learn.
They want an empire - They want to leave something for their children and start a business that their offspring can carry on.
They feel hard done - They work harder and longer than other people but earn less, and they think the only way that they will be paid fairly is if they work for themselves.
Hereditary - Their grandfather ran a business, their mother ran a business, and it feels natural for them to run a business. Similarly they are used to an environment where employment has always been low and starting your own business the way to make money.
