A chicken entrepreneur is a person who is unwilling to take any risk, is too nervous to ditch the day job but builds a new business during evenings, weekends and holidays, alongside their paid employment.
These ‘spare time’ start-ups and side businesses are very often second or third – income enterprises set up by someone whose objective is to make ends meet and pay the bills.
At the start of 2019 there must be thousands of potential ‘chicken entrepreneurs’ who dream of starting their own businesses, but are afraid to do so.
It isn’t a crazy idea, these ‘chicken entrepreneurs’ may be sensible people, paying more attention to the risk involved in setting up a business. They may be increasing the chances of success by testing their ideas or products with potential customers and building credibility before taking the plunge full time. Their enterprise is often related to an interest or hobby – an area they are knowledgeable about.
Some decide to retain their day job and salary long-term, employing others to work on their business venture for them.
There are down sides to running a business in this way. It takes much longer to establish a business and can be energy sapping allowing for little relaxation. However, in these uncertain times it is a great way for people who want to be their own boss to test the market with more caution. Lowering the financial risk to them and building a track record which may be useful when they approach lenders and funders to discuss expansion plans.
MENTA has designed three, free, four-hour business skills training workshops especially for you whether you are thinking of setting up a business or have done so in the last 12 months. The sessions are available if you are based in Suffolk or Norfolk, free of charge and are funded by the European Regional Development Fund.
For dates and locations go to https://www.menta.org.uk/menta-business-advice-for-start-ups or call MENTA on 01284 760206.