So, what type of entrepreneur are you?

Over 80% of those wanting to start their own business should consider taking up a franchise rather than starting a completely new business from scratch, says former TV Dragon Rachel Elnaugh.

Her advice comes following the latest analysis of her Entrepreneurial Profile Test which anyone thinking of going it alone can complete online here.

Using her own experiences in TV's the Dragons Den, Ms Elnaugh has created the Profiler (an online psychometric test) which helps determine the person's entrepreneurial leanings.

“I’m a great believer that all types of people can and indeed do go into business and be a ‘success’ but individual motivation and definitions of success are extremely varied. The Profiler Test helps to understand peoples’ motivations and drivers, which often conflict,” says Rachel.

“For example most people want to make money, but when you dig deeper, the reason they want lots of money is that they don’t actually want to work. To be hugely successful in business usually requires absolute commitment almost to the point of obsession which is why even highly successful entrepreneurs can’t stop even when they have achieved their success.”

Rachel’s next step in developing her Profiling service is to match these would-be entrepreneurs to franchise or other business opportunities. “For many people, a ready-made business with proven processes, training and support is just what they need to put their toe in the water of self-employment,” she says. “Whatever the outcome, the Profiler will have averted a few failures, and possibly reassured others that they are in the right career after all.”