© Ed Yourdon
Almost 77% of small business owners state that small business ideas are in fact improvement on existing offerings. The finding comes as part of a new research by specialist business insurer Hiscox. It also finds that small business ideas are established following unemployment or redundancy. This shows that opportunity lies in adversity too.
Small business ideas, as per the research, also emerge out of people wanting to be their own boss or wanting to give wings to their dreams. Several more entrepreneurs are emerging and new small business ideas are becoming a reality because people do not wish to reinvent the wheel. They want to bring in new perspectives in the business world. However, small business owners must plan properly to protect their small business ideas on the growth trajectory.