One in three entrepreneurs is willing to put aside personal pride for the sake of company growth - but they aren’t willing to risk their reputation in the process.
That’s according to the Embroker Startup Risk Index 2022. The index is based on a survey of U.S. startup founders. It analyzes how founders contemplate risk from both an individual and business perspective.
The index provides key insights for attorneys who represent startups and new ventures, as well as attorneys who have an entrepreneurial bent themselves.
Read the Embroker Startup Risk Index 2022.
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Embroker Startup Risk Index 2022
- Thirty-three (33) percent of startup founders said they are willing to push aside their pride for the sake of company growth.
- The same percentage (33 percent) are not willing to risk their reputation in the process.
- One in four founders cite increased debt, rising costs and inflation as top business risks.
- To address the growing internal and external risks, founders identified three primary strategies: seeking help from advisors (32 percent), controlling growth (30 percent) and prioritizing risks (30 percent).
- Focus for managing internal risks: 30 percent said prioritizing the risks; 28 percent said providing employee and mental health resources; 28 percent said controlling growth.
- Focus for managing external risks: 32 percent said they rely on business advisors; 29 percent said conducting crisis and risk planning; 30 percent said controlling growth.
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