Entrepreneurs More Bullish On Economy Than Captains Of Industry

Bosses in Britain's growing entrepreneurial businesses are more optimistic for UK economic prospects than their counterparts in the country's biggest companies, according to a survey of over 800 entrepreneurs conducted by MORI for business advisers Ernst & Young.

The survey, which reveals that only 37% of entrepreneurs believe economic prospects to be gloomy, compared to 89% of respondents to MORI's recent Captains of Industry survey, was unveiled at today's launch of Entrepreneur Of The Year, a major international award programme, founded and produced by Ernst & Young.

Findings show that 30% of entrepreneurs believe that the current political climate favours entrepreneurship, but the majority feel undervalued, with 83% saying their contribution to the national economy is not widely recognised. They want a society which 'celebrates business heroes', 69% saying they would like to be valued in the same way as pop stars and footballers.

Speaking at the Entrepreneur Of The Year launch, David Wilkinson, Ernst & Young National Head of Entrepreneurial Services, said: "We have always recognised that entrepreneurial growth companies form the backbone of an successful economy. Entrepreneur Of The Year celebrates entrepreneurial spirit and recognises the vital contribution of outstanding entrepreneurs who have the vision and determination to create a major source of innovation and employment growth."

David Wilkinson concludes: "Encouraging entrepreneurs will reap rewards for the country as a whole."

Further information on Entrepreneur Of The Year is available from Jon Tracey at Ernst & Young on 020-7931 3264.

Technical details

The nationwide self-completion survey was carried out by MORI on behalf of Ernst & Young between 9 and 21 January 1999. Responses were received from over 843 entrepreneurs in businesses with turnovers ranging from less than 1635m to in excess of 163500m and employing from less than 20 up to 500 plus.

Based on the replies, the sample has been estimated to employ 175,220 people. Total turnover was almost 16345 billion.

MORI's Captains of Industry survey interviewed face-to-face 149 senior managers from the top 500 UK companies. The fieldwork took place between 15 September and 19 September 1998.