Telling the truth about SME life today

99 per cent wouldn’t invest in a friend’s business

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Business networking site LinkedIn recently asked 3,000 of its members what they would do if they received a cash windfall.

Of the 487 UK respondents, one per cent said they’d use the cash to back a mate, seven per cent would squirrel it away in shares and property and 31 per cent would take to the sofa until something else came along. Almost half would back their own venture and the rest would jet off on a long holiday and wait out the recession.

These figures are slightly depressing. Entrepreneurs have been touted as Britain’s fastest route out of recession. Is the UK’s fear or risk and failure holding us back?

Related articles Don’t be a twit. Be a Twitter How to raise money in a downturn A start-up’s rough road to funding

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