Small businesses believe it is vital to be determined and resilient in order to be successful, research from Funding Circle has found.
The peer-to-peer lending platform’s OnePoll survey of 1,000 small business owners revealed that 34 per cent said it’s important not to be disheartened by any failed pitches.
Similarly, 35 per cent said that if they could advise their younger selves, they would tell themselves not to give up.
Just under half of small business owners (48 per cent) said that acknowledging there are external factors outside of their control had been an important step in their business journey.
“The research highlights the many twists and turns in the life of a small business owner, but it also celebrates their perseverance, resilience and adaptability,” Lisa Jacobs, Europe managing director at Funding Circle.
“We’re proud to be able to play a part in their journey, helping small businesses up and down the country succeed.”
The top tips small business owners said they would give their younger selves include: to stay motivated, not to give up, be confident, take on advice, research competitors, be time-efficient and find a work-life balance.
Small business owners also advised their younger selves not to fear risk, overcomplicate ideas or to take rejection personally.