Most business startups end badly. While the number of new businesses created in the UK in 2016 – 414,000 – looks impressive at first, it is less so when set against the number that failed that same year: 328,000. Failure has always been the hallmark of entrepreneurship – only around 50% of businesses survive their first five years. And not only are the chances of survival slim, but there is evidence that on average business owners earn less than if they had remained as someone else’s employee. They also work substantially longer hours than their counterparts in paid employment. So…
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