- Nearly 60% of them have worked in a corporate environment;FYI - 33% say this was key to their success- 45% of entrepreneurs start their first business after age 30
- 10% of entrepreneurs started ten or more companies
The research challenges the stereotype that all entrepreneurs start their companies without completing a formal education and without any experience of corporate life. Although many of the entrepreneurs that were surveyed started at a young age, 45% of the respondents said they did not start their business until they were 30 or more.
And nearly 60% described themselves as “transitioned” entrepreneurs, who have previously worked in a corporate environment before setting out on their own.
When asked what was the most important source of learning in terms of their career, one third of all entrepreneurs (the highest ranking) said it was their experience as an employee. Thirty per cent highlighted higher education and 26% mentors.
Maria Pinelli, the new Global Vice Chair Strategic Growth Markets for Ernst & Young explains, “Entrepreneurial leaders are defined as much by their early business experience, cultural background and external environment as they are by any innate personal characteristics. Nurture not nature does appear to be more important in shaping the entrepreneurial mindset.”