Successful entrepreneurs more likely to take risks

A new report from Barclays Wealth suggests that the wealthier entrepreneurs are, the higher their appetite for risk during the all-important wealth creation phase.

Some 60 per cent of those with assets of more than $1 million said a high appetite for risk had been a big influence in generating their wealth, compared with 36 per cent of those with less than $1 million of assets.

Interestingly, the same entrepreneurs are more cautious to risk when their own personal investments are concerned.

The report shows that individuals with more than $1 million do not take higher risks with investments than those with less money. This suggests that entrepreneurs are more willing to take business risks than personal ones.

The report also has some interesting findings when it comes to regional entrepreneurial behaviour.

South African entrepreneurs are most likely to see a high-risk attitude as being an important wealth creation factor (84% of respondents). This is very high compared to just 25% of UK entrepreneurs, and 36% of those from the US and Canada. Of course, you can afford to be less risky in established and successful market economies - more risk is required to achieve success in developing economies.