Is it nature or nurture?

According to research by David Blanchflower and Andrew Oswald there is no specific character which makes for a successful entrpreneur. The one single factor which influences success is access to finance

In a statistically sophisticated research paper they came up with 4 conclusions

• The probability of becoming self-employed depends significantly on whether the individual has ever received a gift or inheritance. As an example The White Company was set up after its founder Chrissie Rucker was left an inheritance by her Grandmother and now turns over £50m
• Entrepreneurs say that raising capital is their biggest challenge ( no surprises there!)
• The self-employed are happier
• Childhood personality and psychological tests are of no help in predicting who will go on to set up their own business. Its just access to money!

You can read the full report here

http://www2.warwick.ac.uk/fac/soc/economics/staff/academic/oswald/entrepre.pdf

As a soft toy wholesaler specialising in knitted and crochet toys we obviously come in to contact with a lot of people, especially women, who start their own businesses after having children. Most of them are smart and hard working but I am positive that a dump of cash in to their business would definitely make a difference in how quickly their businesses will grow! Unfortunately most of us have to stick with the banks. Great!