Entrepreneurs happy with life after exit - but many ... - EN for Business

The majority of entrepreneurs who sell up are happy with their lives post-exit, but many find it hard to resist the call of business for good, according to new a poll.

The survey by private bank Coutts found that only 27 per cent of owner-managers call it quits and retire after selling their business, while more than half (54 per cent) jump straight back in and set up another venture.

Furthermore, almost all entrepreneurs try to "give something back", with 74 per cent advising another business, 65 per cent investing in someone else's enterprise and 50 per cent getting involved in philanthropy.

But while 88 per cent of respondents said that they were happy with their lives after exiting their business, 38 per cent claimed that it took two or more years before they found a lifestyle that suited them.

Coutts said the findings suggest that entrepreneurialism is a "way of life" not easily left behind, with 96 per cent of those surveyed saying that they missed growing something of value.

However, only one in three missed being in control, while 44 per cent missed the day-to-day involvement with running a company. Just five per cent said that they missed the pressure of being head honcho.

Andrew Haigh, head of client propositions at Coutts, said, "Portfolio careers, juggling new ventures, charitable strategies and angel investing in starts-ups is a common theme amongst our client base of over 20,000 entrepreneurs.

"A true entrepreneur absolutely thrives on a demanding and fast-paced lifestyle, and the sale of a business which has been started from scratch can sometimes feel like bereavement, and is a Holy Grail that can often only be plugged by embarking on equally as exciting new ventures.

"This is why a solid network of contacts and professional advisors are of utmost importance as they will help provide the insight and open the doors that entrepreneurs need to ensure they stay active, inspired and challenged for life after exit and beyond."

By Andy Jowett

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Source: http://www.enforbusiness.com/news/entrepreneurs-happy-life-after-exit-many-come-back-more-20129238

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