Control the spur for entrepreneurs

CONTROL, not cash, is the main motivator for Irish entrepreneurs, a new survey has found.

In the survey sponsored by the Irish Software Association, entrepreneurs cited the independence of being in charge of their own companies as the prime reason for setting up new businesses.

The survey What Motivates Irish Entrepreneurs to Set up Their First Business was conducted by Shane Davey of the Michael Smurfit Graduate School of Business.

In other countries, personal wealth creation tops the list of reasons people strike out of their own.

The survey found three main reasons people set up their own businesses:

"I wanted to be my own boss and have more independence."

"I wanted to do something that I enjoyed"

"I saw a niche in the market that was exploitable."

Irish Software Association chairman Paul O'Dea said: "It is vital that Ireland improves its entrepreneurial culture in order to boost indigenous industry, but this survey finds that the motivating factors are various and complex.

"This report is further evidence of the emergence of a new generation of Irish entrepreneurs," Mr O'Dea said.

Mr Davey said that the most surprising finding was that getting rich was not a prime motivator for Irish

entrepreneurs.

"That is not to say that some Irish entrepreneurs are not solely motivated by money, just not as many as may be from other countries," Mr Davey said.

The average age of entrepreneurs to begin their first business was 32 years old 35 for women and 31 for men.

Only 15% of entrepreneurs surveyed were over 40 when starting their first business, 40% were in their 30s, 40% in their 20s, and 5% were under 20.

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