Entrepreneurs are a diverse bunch the world over with an appetite for risk and a single-minded approach being about all this interesting breed of business people have in common.

A round table of entrepreneurs attended by CoreData Research in the UK last week revealed some interesting challenges to the status quo of careers in business.

The event was unanimous in noting that UK culture placed too much emphasis on not taking risks, particularly where peoples’ careers are concerned and too many workplaces inhibit risk-raking and create a fear of failure.

The education system was too geared to turning out people for ‘non-value added’ careers, as one entrepreneur put it.

Instead, young people should go for something completely creative with safer careers as a fall-back, although this goes against the grain of conventional careers advice.

The standard path for bright pupils of a good education followed by a career in a profession such as law or accountancy was not seen as a good breeding ground for entrepreneurs.

UK graduates were seen as lacking in the hunger of many overseas graduates now have.

“UK graduates ask what training they will get, what the hours and what the pension is like. Overseas graduates are hungrier and talk more about what they want to do for you”, one entrepreneur commented.

Another criticised those entering the UK workforce as being unwilling to relocate to improve their career prospects; “they grow up somewhere with their friends and they don’t want to move across a city, let alone to another country.”

The lack of the right attitude was seen as the biggest failing in new recruits; skills could be taught, but having the right spirit or spark could not.

In comparing the UK to emerging economies such as China, it was agreed that the UK cannot compete in terms of cost or manpower.

Instead innovation and better commercial exploitation of new opportunities had to be the keys to success.

Intellectual property was mentioned as a possible future area.

As one participant put it, countries like the UK invented modern law about 300 hundred years ago and have been perfecting it ever since, so isn’t it time something new was invented to replace it?

The talent is there, it was agreed, but isn’t being nurtured and encouraged in the right way.

As for what makes a good entrepreneur, it was agreed that an appetite for risk and a single-minded approach was about all they had in common – age was not necessarily a factor.

In the US however statistics show the average first-time millionaire is over 50 with four failed businesses behind him.

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