Entrepreneurial Spirit Alive, but Shaky
Forty percent of Americans dream of starting their own business, but nearly 55 percent of that group are foggy on how to get started, according to a survey by Capital One and Consumer Action.
The two groups hired research firm Braun Research to query 700 adults who had thought about starting their own business. They found that only 20 percent felt very confident that they understood the basics of what they would need. They also said that financial planning, bookkeeping and finding the right business were the top challenges.
Almost 46 percent said having the chance to "do what they want to do" is the most important benefit to owning a business, while about 31 percent said "being your own boss" was what was important.
Capital One and Consumer Action followed the survey with release of a free guide called "Micro Business Basics: Building a Sound Financial Foundation."
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 10, 12/04
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