Most small business owners are confident of success, despite the high failure rate of small business ventures.
In a survey of 1,000 small business owners, Deluxe Corp found that 86% of small business owners believe they can do anything they set their minds to. However, previous research has revealed a failure rate of 50-70% in the first 18 months.
It seems many entrepreneurs set out to achieve a lifetime goal, rather than to achieve success. Over three quarters of respondents (77%) said they would rather learn from failure than never try. Over half (54%) said they don’t want a boss, and 89% describe themselves as leaders.
Tim Carroll, vice president of small business engagement at Deluxe, said small business owners are often confident people who want to take control of their future.
“They’re very aware of the risks they’re stepping into,” Carroll said. “They’re supremely confident despite knowing the risks.”