For many, the word “entrepreneur” has become synonymous with a hustle culture and lifestyle that seeks to maximize profits at the expense of work-life balance. We need to reshape this image and show that running your own business can be a viable and even desirable career choice.
Entrepreneurial stereotypes
For many, the word “entrepreneur” has become synonymous with a hustle culture and lifestyle that seeks to maximise profits at the expense of work-life balance. New research shows there is a need to reform this image and demonstrate that running your own business can be a viable, and even desirable, career choice for a broad cross-section of society.
The reality of entrepreneurial diversity
According to a recent report from Hatch Enterprises: Entrepreneurs ClubA survey by The iNaturalist revealed that 74% of Brits don’t think entrepreneurs are people like them. This may come as no surprise to those who are introduced to the entrepreneurial world through shows like The Apprentice and Dragons’ Den, where the image seems very unrealistic, dominated by young, white men in suits who only work in finance or technology.
Working for an inclusive entrepreneurship charity, it’s clear that beyond this narrow archetype, a wide range of people are running and growing successful businesses and there’s a wealth of talent and diversity – this sector is particularly suited to people who have barriers to accessing traditional workplaces.
Entrepreneurship as an opportunity for underrepresented groups
For women, people with disabilities and people from minority ethnic backgrounds who face glass ceilings, discriminatory cultures and unrealistic working conditions in other environments, entrepreneurship can offer refreshing autonomy and flexibility – which is increasingly important for women, the primary carers of children, who are being pushed out of work by the rising costs of childcare.
The people supported by Hatch Enterprises’ business support programme are not like, and don’t look like, the people featured on Dragons’ Den or The Apprentice. The majority (84%) are women and almost two-thirds (64%) are from ethnic minority backgrounds. They often say they never want to go back to traditional employment, and you can’t blame them. Starting and running your own business is, in most cases, a life-changing process and undoubtedly hard work, but it can be transformative to your quality of life. Entrepreneurs can set their own schedule, choose projects that align with their values and work flexibly around other commitments.
Overcoming Barriers and Imposter Syndrome
For many, perceptions are a persistent barrier, and too many people give up on themselves out of self-doubt. Women, people with disabilities, and people who are gay are less likely to feel confident about starting a business than the average person, and imposter syndrome is rampant in marginalized communities.
This is where the business education sector comes in, providing skills training to fill gaps in business knowledge, but most importantly, providing a community for those wanting to explore different career options. Continuing education, whatever its form, can be a transformative intervention for those wanting to make a career change, but it will only be effective if it is seen as a viable and accessible option at an early stage.
Redefining what makes a successful entrepreneur
It’s simply not true that to be successful, entrepreneurs need to be more aggressive, more tenacious, more disciplined, or wake up before dawn and not go home until the workday is done. These are helpful qualities, but so are compassion, people management, creativity, and the ability to set clear boundaries.
Image reform and the importance of diverse expression
An image reinvention is therefore essential: by celebrating diverse and representative entrepreneurial stories from across the spectrum of society, we can begin to overturn the outdated stereotypes that prevent access to the sector. Entrepreneurs Club It’s just a small step towards increasing visibility, but we all have a role to play.
Alumni from the Hatch Enterprise community are active in fields such as philanthropy, food and beverage, consulting, arts, social work, retail, community building, AI, and more. There’s power in difference, as our graduates can focus on niches that are often overlooked and apply their experience to business strategies.
Addressing inaccurate perceptions head-on
We published the report. Entrepreneurs Clubis our way of addressing misconceptions about entrepreneurship head on and catalyzing the conversation about what it means to be an entrepreneur. The survey results reaffirmed what we knew to be true: entrepreneurship has an image problem, and we need to address it first before we can build a truly diverse and representative ecosystem.
Rebecca Capon, Managing Director of Hatch Enterprises
