2015 to be the year of the ‘fampreneur’

A recent survey by BusinessesForSale.com has revealed that 65.2% of entrepreneurs who are planning to go into business with family members will do so in 2015. The survey was commissioned following a rise in activity on the site of people in employment keen to set up a business with one or more family members.

In addition, a high proportion (75.4%) are willing or keen to relocate to enjoy the change in lifestyle they crave.

Rufus Bazley, marketing director at BusinessesForSale.com says: “We expect more families to put the Monopoly board to one side last Christmas and put together their own business plans for 2015 instead.”

The survey also quizzed established ‘fampreneurs’, the majority of which had businesses established in the last four-year period. It found they too had small groups of family members enjoying the success of being the boss, thanks to a relevant blend of skills and experience acquired prior to start up.

Rufus adds: “This new breed of entrepreneur, the fampreneur, is not a third generation inheritor of an established bloodline business. It’s someone who sees a new opportunity and recognises that the skills, trust, and finance he or she shares with one or more relatives, means their exposure to risk is reduced while the potential for success is far greater than going it alone.”

“Doubtless the zeitgeist of the age of the entrepreneur has been tempered in recent economic times, and the notion that family members can pool resources in this way makes business ownership more accessible to all.”