DTI Research Dispels Some Myths

January 2006

New research from the DTI has revealed there are a number of myths surrounding starting and running a business. These myths are potentially damaging as they can discourage people from taking the plunge and starting up their own business. Examples include:

MYTH it takes many years to start a business from scratch
FACT most businesses are established within six months

MYTH the rejection figure for business loan applications is significantly higher than it is
FACT overall, only between 10% and 20% of applications are rejected.

Internet link:

To find out more about the research go to:
SBS press release

Top