Micro firms ‘take fewer risks’

For a number of micro business owners, starting up was more about attaining a better work-life balance than building a bigger bank balance, new research suggests. The report from financial services firm MORE THAN Business claims many so-called ‘alterpreneurs’ – entrepreneurs who seek an alternative to the 9 to 5 office life – are unlikely to make any business gambles that could threaten their lifestyle.

Once up and running, nearly three-quarters run their business in a way that poses little risk to their most important lifestyle factors, such as family life.

The study, as reported on startups.co.uk, shows that alterpreneurs, who own and manage around two-thirds of the UK’s smallest companies, choose not to set overly ambitious targets for business growth, preferring to have more control over their lives. Half felt there was no risk in not reaching their growth targets.

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