Entrepreneurial sentiment after a year of lockdown restrictions
As we come out of lockdown, entrepreneurial sentiment has been at an all time high. In 2020 over 800,000 businesses were founded while research from IW Capital suggests that 37% of the UK population saying they feel that running their own business would be an attractive venture. These findings are a reflection of the working resilience across the country, showing that not even a global pandemic can hinder the national optimism of UK entrepreneurs.
As an investment house that has worked with numerous small businesses and entrepreneurs, we have found that for entrepreneurs to succeed, they need to show resilience, agility and determination especially now, during the pandemic. Many of our portfolio companies are great examples of SMEs that have been resilient and adaptable to the pandemic. GPDQ, for instance, is a healthcare company that has started offering consultations online as well as at home or in a clinic showing their ability to be flexible and adaptable to new and challenging circumstances.
Resilient entrepreneurs work hard to achieve their goals and quickly adapt to changes in order to take advantage of opportunities and learn from past mistakes. With over 800,000 businesses founded in 2020, the year of the pandemic, those who managed to stay afloat and grow in such a difficult time, showed true resilience as well as agility and determination.
As some entrepreneurial companies have been forced to downsize and eliminate jobs – due to the effects of the pandemic – in order to keep the lights on, leadership may have to practice their own agility by helping to fill in for those now-missing resources. The same goes for all of the businesses that have had to move their services online and adapt to a whole new virtual platform. The pandemic has really pushed entrepreneurs to be more flexible and agile as that is the only way to succeed in the current climate.
Lastly, entrepreneurs need to stay determined. To summarise, determination is what allows an entrepreneur to dream of an impossible vision and make it a reality. Many of the companies we have worked with all started from an idea, but it was determination that helped it become a reality. A successful entrepreneur is one who possesses the determination to persevere through all of the ups and downs of business in order to achieve their goals and dreams.
At IW Capital, we are looking to invest in more ambitious small businesses and we know that many other investors are too. This is a great time to ask for investment and if you are the business owner of a growing firm with an annual turnover of more than £1 million, we would be delighted to discuss how we can support your business.
To find out more about IW Capital, or for more information on investment and non-executive opportunities, please speak to a member of the IW Capital team today on 020 7015 2250, or email firstname.lastname@example.org