Member Article

Business start-ups odds on for a million

While a hard slog to get your business off the ground may seem less glamorous than getting into showbiz, if you want to make a million pounds, starting your own company is your best bet, according to research from Barclays Local Business.

Although the average ‘Joe Bloggs’ has a one in 400,000 chance of earning £1m in the Premier League, a one in 500,000 chance of winning Big Brother and a one in 13.5 million chance of winning the jackpot on the lottery, the odds of making a million by starting your own business are just 200 to one.

And for those who want to go into showbiz, the odds are just as slim: the average person’s chance of winning the X-Factor is a million to one, and the odds of becoming the next big thing in the fashion business by landing a lucrative modelling contract is 200,000 to one.

John Davis, marketing director for Barclays Local Business, said: “This research confirms that hard work and determination in traditional business is much more likely to be rewarded by real tangible success. The sheer volume of successful start-up businesses in the UK should encourage more budding entrepreneurs to follow their business aspirations in order to achieve their ambitions.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .