Although TV reality shows about enterprise like Dragons’ Den inspire people to set up their own company, the stars of the programme do little for existing businesses.
Such is the verdict of bosses running small to mid-sized outfits polled by Abbey Business, who said the investors’ advice is wide of the mark or irrelevant to them.
Obtained by The Mail on Sunday, the poll reportedly shows small business owners have such little faith in the Dragons that they would even reject any cash handouts for their outfit.
In fact, half of all firms would trust their own judgement far more than the millionaires on the show, all of whom have set up high-profile businesses and mentored others to success.
Duncan Bannatyne, the owner of health clubs and casinos, is the only investor on the BBC show to emerge with some credibility in the poll of small business owners.
One in four company owners rated his guidance as potentially being relevant and credible enough for them to incorporate it into their day-to-day running of their business.
Last month, researchers for NatWest bank found 19% of small business owners directly linked their decision to start-up with a reality TV show, like The Apprentice or Dragons’ Den.
However, how accurately such shows represent the day-to-day is another matter, as 45% of self-employed respondents said they make start-up look glamorous, and a third said it was made to look ‘easy.’
At the time, Steve Pateman, chief executive of Natwest Business Banking, said: “Whilst it's encouraging that TV programmes can inspire an army of armchair entrepreneurs into action, they only really scratch the surface of what it takes to run a successful business.”
Aug 6, 2007
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