Methodology

Risk and Readiness

The polling for this research was conducted by Censuswide with 508 UK business owners aged 18+ (who founded their company) who have raised funds for their business (50% including external investment, 40% business/start up loan and 10% using their own money), in companies of all turnovers (excluding sole traders) between 17th August 2023 and 25th August 2023. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.

Polling questions:

  1. To what extent are you risk averse or risk tolerant with regards to running your business? (Very risk averse / Somewhat risk averse / Neither risk averse nor risk tolerant / Risk tolerant / Very risk tolerant)
  2. To what extent do you agree or disagree with the following statements? (Strongly disagree / Disagree / Neither agree nor disagree / Agree / Strongly agree)
    • 2.1. After launching my business, I became more open to taking risks.
    • 2.2. Risk-taking is important to my business’ growth.
  3. What, if any, potential risks are affecting your business right now? Tick all that apply. (Difficult economic climate / Supply chain disruption / Unfavourable tax regime / Cybersecurity attacks / Regulatory environment / Difficulty in attracting talent / Geopolitical conflict / N/A There are no potential risks affecting my business right now / Other, please specify)
  4. How would you describe the level of risk in the business environment today compared to one year ago? (Much less risk / Somewhat less risk / About the same level of risk / Somewhat more risk / Much more risk / Not applicable – my business is less than one year old)
  5. Which potential risks, if any, are you most concerned about the impact of in the coming year? Tick up to three. (Difficult economic climate / Supply chain disruption / Unfavourable tax regime / Cybersecurity attacks / Regulatory environment / Difficulty in attracting talent / Geopolitical conflict / N/A There are no potential risks affecting my business right now / Other, please specify)
  6. What do you anticipate the overall level of risk in the business environment will be like in 12 months’ time? (Much less risk / Somewhat less risk / About the same level of risk / Somewhat more risk / Much more risk / Unsure)
  7. How often, if at all, do you/would you rely on external, professional support when? (Always / Often / Sometimes / Rarely / Never)
    • 7.1. Raising finance
    • 7.2. Ensuring effective corporate governance
    • 7.3. Managing data privacy risks and ensuring regulatory compliance
    • 7.4. Reviewing and negotiating contracts for your business
    • 7.5. Protecting intellectual property (e.g., trademarks, patents, copyrights)
    • 7.6. Handling disputes or conflicts that may arise
  8. To what extent do you agree or disagree that the following people understand what your business needs to succeed? (Strongly disagree / Disagree / Neither agree nor disagree / Agree / Strongly agree / Unsure)
    • 8.1. Conservative politicians
    • 8.2. Labour politicians
    • 8.3. SNP politicians
    • 8.4. Liberal Democrat politicians
    • 8.5. Green Party politicians
    • 8.6. The regulators relevant to my industry
    • 8.7. Universities
    • 8.8. Potential investors
  9. To what extent is AI a threat to your current business model? (A significant threat / Somewhat a threat / Neither a threat nor not a threat / Not much of a threat / Not a threat at all)
  10. To what extent is AI an opportunity for your current business model? (A significant opportunity / Somewhat an opportunity / Neither an opportunity nor not an opportunity / Not much of an opportunity / Not an opportunity at all)
  11. How easy or difficult do you think it will be / would be either to attract the funding your business needs, or to achieve an appropriate market valuation for it from the following sources over the next twelve months? (Very easy / Quite easy / Neither easy nor difficult / Quite difficult / Very difficult / Unsure)
    • 11.1 The UK
    • 11.2 Europe (excluding the UK)
    • 11.3 The US
Mishcon de Reya
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Mishcon de Reya LLP is an independent law firm, which now employs over 1450 people with more than 600 lawyers offering a wide range of legal services to companies and individuals. The firm has grown rapidly in recent years, showing almost 60% revenue growth in the past five years alone.

With presence in London, Oxford, Cambridge, Singapore and Hong Kong (through its association with Karas So LLP), the firm services an international community of clients and provides advice in situations where the constraints of geography often do not apply. The work the firm undertakes is cross-border, international and complex, spanning six core practice areas: Corporate; Dispute Resolution; Employment; Innovation; Private; and Real Estate.

The Entrepreneurs Network
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The Entrepreneurs Network is a think tank for Britain’s most ambitious entrepreneurs. We support entrepreneurs by:

  • Producing cutting-edge research into the best policies to support entrepreneurship;
  • Campaigning for policy changes that will help entrepreneurship flourish;
  • Hosting regular events to bridge the gap between entrepreneurs and policymakers;
  • Updating entrepreneurs on how policy changes will impact their business;
  • Making the case in the media for entrepreneurs’ contributions to society;
  • Serving as the Secretariat for the All-Party Parliamentary group for Entrepreneurship.