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Eldest siblings most likely to succeed as entrepreneurs

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Interesting new research shows that eldest children are more likely to start up their own businesses than younger children.

The YouGov research on behalf of Barclays Local Business Banking, polled over 2,400 small business owners. The results showed that 41% of entrepreneurs polled are first born children. Only 27% were the youngest in the family.

Firstborns are typically characterised as conscientious, organised, responsible, high achievers and competitive; all qualities which are key to the successful running of a business. They also frequently score higher on intelligence and achievement tests in comparison to younger and middle children.

It seems that birth position has a far bigger impact on entrepreneurial flair, rather than some genetic factor, as 61% of those questioned do not have another family member who runs their own business.

Entrepreneurs in London are the most experienced, with 22% admitting to having owned at least three businesses. It is perhaps no coincidence then that the capital’s entrepreneurs are also most likely to be eldest children (44%).

By contrast, East Midlands’ entrepreneurs are least likely to be the eldest children (36%) and the East of England’s entrepreneurs are least likely to have been involved with multiple businesses. Only 2% of those surveyed in the area have run more than three businesses.

Posted December 4, 2007
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