December 02, 2016 08:27
Seven out of 10 office workers dream of running their own business, and coffee shops and bakeries top their list. But in reality office workers who start their own business end up running it for no more than two years on average.
Job search portal Saramin polled 1,542 office workers and found that 78.2 percent had thought about opening their own business. Asked why, 52.3 percent said they want to follow their passion, while 45.5 percent said they want a source of income beyond retirement.
Others cited the possibility of earning lots of money, wanting to work without pressure from their bosses, and being unhappy in their job. Coffee shops and bakeries were chosen by 29.2 percent of the respondents, followed by restaurants with 28.4 percent.
One 37-year-old office worker, who has been employed by a major conglomerate for 12 years, said, "I dream of opening a coffee shop in a quiet neighborhood, and this dream gets stronger when the pressures of my day job intensify."
Next were online shops favored by 19.7 percent, followed by B&Bs (14.5 percent), shops (13.3 percent), IT companies (12.2 percent), bars (8.5 percent), advertising agencies (7.6 percent), private crammers (7.5 percent) and real estate agencies (7.1 percent).
Respondents said they would need around W100 million to open their own business (US$1=W1,177). Most said they intend to raise the cash by saving, followed by taking out bank loans, using their retirement package, and using loans from family members or other investors.
Some 11.7 percent said they have experience starting their own businesses, but only about one-fifth of those are still running those businesses for an average of 28 months.
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