One in five businesses were started because founders were jealous of their former boss, with entrepreneurs desperate to experience the freedom of their own business.

A staggering 20 percent of business owners started their business because they were jealous of their former boss, research from Start My Business shows.

This is especially the case for entrepreneurs under the age of 35, with 40 percent citing jealousy as the main reason for starting their business.

The research revealed that 20 per cent of business owners started their business because they were jealous of their former boss, especially entrepreneurs under the age of 35 with 40 per cent citing jealousy as the main reason for starting their business.

 

 

Employees want more power

Over half (52 percent) admitted to wanting more power and control than they could get at their previous job, a figure which rose to 62 percent amongst younger entrepreneurs.

Also, 41 percent admitted to enjoying telling other what to do and 36 percent said they hated answering to people above them in their former jobs.

Jealousy of a former boss even sparked one quarter (24 per cent) to consider a hostile takeover in their former company, prior to founding their current business.

“There are many reasons for entrepreneurs to launch a business, and the freedom of being your own boss is appealing for many. The flexibility to make your own decisions and run a company the way you want to, without answering to anyone, is liberating and one which all entrepreneurs benefit from experiencing.”

“But a business cannot be formed out of jealousy alone. Launching a company requires careful planning, involving core business checklists and research into digital tools and services, in order to be successful. Particularly for younger entrepreneurs, guidance and support from fellow business owners, and even business mentors, can be an invaluable resource to help get a business of the ground and start to grow.

 

 

 

 

 

Editor at HRreview

Amelia Brand is the Editor for HRreview. With a master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at the University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.