People don’t notice the number of start-ups that happen, come and go below the radar. Entrepreneurs who never go to a bootcamp, never have a mentor and don’t see venture capital or crowdfunding. Why is that? Well they always have and always will it’s just part of the business base of the UK and most countries.
A around 80% of UK businesses in the category of small and medium enterprises (SMEs). Of these SMEs around 40% employ less than 10 people. These are also often “sole-traders” so they are not even a registered company and hard to spot on any official statistics. We should pay more attention to the positive effect of small businesses on the economy.
What most of them have in common is they will use a bank and have a bank account of some sort. Also over 80% of UK businesses use some form of loan finance at some point. This is why I am so keen on making loan finance more available. In fact I do this in my sister business, Rivers Capital Partners, in the North East of England. Have a look at www.riversloan.com
The other reason may businesses just get on with it is they are set up and run by, well older people. Most have families and don’t want to go to a bootcamp or seed school. They are just part of our community and so get missed by most of the commentators and pundits in the tech economy. Look around you, many are fantastic and deserve recognition.