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Entrepreneurs 'can learns from others' mistakes'

22 Aug 2008

Entrepreneurs 'can learns from others' mistakes' Would-be entrepreneurs can learn from other people's mistakes if they seek entrepreneurial support, according to one expert.

Students who are looking to go-it alone once they graduate will find this kind of support easily available, while women will find the network available to them has widened considerably in recent years, states founder of Women in Business for RBS and Natwest, Tessa Lyndon-Skeggs.

Ms Lyndon-Skeggs adds: "I would say that the biggest challenge for all businesses…is that most small businesses don't know what they don't know until they've made that mistake, whereas actually by calling on professional and peer-to-peer support, you actually learn from other people."

According to statistics from the Department for Business, Enterprise and Regulatory Reform (BERR), small businesses make up a significant part of the UK's economy, employing 13.2 million people and contributing £369 billion each year.

The annual Small Business Survey 2006/07 by BERR revealed that the biggest obstacles faced by entrepreneurs are competition, followed by regulation, taxation, and business rates.

These barriers were widely the same as those perceived in 2005.

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