Survey: Money not prime motive for setting up business

A new survey sponsored by the Irish Software Association and conducted by the Michael Smurfit Graduate School of Business finds that making money is not the prime motivator for Irish entrepreneurs in setting up a business.

A new survey sponsored by the Irish Software Association and conducted by the Michael Smurfit Graduate School of Business finds that making money is not the prime motivator for Irish entrepreneurs in setting up a business.

'What Motivates Irish Entrepreneurs to Set up Their First Business' reveals that the prime motivation of Irish entrepreneurs is to be their own boss and have greater independence.

"The most surprising finding of the study is that getting rich is not the prime motivator for Irish entrepreneurs," said Shane Davey, author of the report.

"It seems that Irish entrepreneurs at least, are more interested in having more control and independence and enjoying their work more, than starting up a business to earn their fortune," he said.

The survey finds that Irish women are more likely to start their companies later than men. The average age of all entrepreneurs when starting their first business was 32 years of age, 35 for women and 31 for men.

Only 15% of entrepreneurs surveyed were over 40 when starting their first business.

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