While the BBC TV show ‘The Apprentice’ is drawing millions of viewers, when it comes to the nation’s favourite business pundit Peter Jones leads the pack.
In a survey of 200 entrepreneurs and new business owners by Begbies Traynor, the corporate restructuring and turnaround specialists, Peter Jones topped the poll with 29 per cent of the popular vote.
Second place went to Sir Alan Sugar with 26 per cent of the votes. His hit show The Apprentice is building towards its second series’ climax.
Scottish Dragon Duncan Bannatyne came third with 17 per cent. The newest Dragon, Theo Paphitis, scored 10 per cent. Martin Webb from Channel 4’s Risking It All tied on 5 per cent with Doug Richard of Dragons’ Den.
Plumb last, with just 2 per cent of the votes, came Rachel Elnaugh, whose Red Letter Days went into administration late last year.
The favourite business TV programme was The Apprentice, scoring 55 per cent. Dragons’ Den came second with 45 per cent, and Risking It All, the Channel 4 series, received no votes.
According to Begbies Traynor’s research findings, 85 per cent of the budding entrepreneurs claimed they would have the courage to pitch to the Dragons. And a mere 2 per cent said that the programme had put them off seeking private equity capital. Interestingly, more than half (55 per cent) of the respondents found these programmes useful to running a business.
In fact, 19 per cent claimed that these business programmes had actually prompted them to set up their own business. And 38 per cent admitted they had adapted their interviewing and pitching techniques because of these programmes.
Less positively, nearly 40 per cent said that the popularity of these TV shows about business was ‘encouraging idiots’ to start businesses.
James Martin, partner at Begbies Traynor, Birmingham comments:
“TV programmes like Dragons’ Den and The Apprentice are good entertainment. From our survey, they certainly seem to make setting up in business look quite exciting.
“While it’s very encouraging that people are willing to have a try, one result from our survey set some alarm bells ringing. Only 5 per cent said they found dealing with HR issues difficult. This finding reveals the early stage these businesses must be in. Anyone who’s run a business for some time knows that people issues are always the hardest to deal with.
“As a firm that deals with troubled or insolvent businesses, we want new entrepreneurs to understand that building a successful enterprise is never going to be easy. In fact, going into business should not ever be undertaken lightly. In the end TV is TV, and real business life can be much less glamorous.”
Enquiries, please contact:
James Martin Joanne Fletcher-Wall
Begbies Traynor Group plc Bell Pottinger North
0121 200 8150 01625 506425
Notes to editors:
About Begbies Traynor Group plc
The Group specialises in business insolvency management and is becoming increasingly active in the area of personal insolvency. It also offers services in corporate rescue and investigation services and has entered the field of corporate finance.
In November 2005, the Group entered the rapidly-expanding volume personal insolvency market via the acquisition of W3 Debt Solutions, a firm specialising in providing advice and practical support to individuals in debt.
The Group has grown to its current network of 30 nationwide offices ranging from Scotland to the South West of England, with 350 operatives. The Company continues to pursue its strategy of organic development, coupled with the acquisition of specialist knowledge of both individuals and firms, to further increase its market share in its core services.
The Directors believe that the Group is the UK's largest independent insolvency, corporate rescue and recovery specialist with clients ranging from major institutions to individuals with business difficulties.
The Office Network
The Group operates with 60 licensed insolvency appointment takers, some 225 fee earning staff and 65 in support and administration. The Group operates from 30 locations of which five are regional offices, a further 12 are full offices and 13 are satellites.
The core business of the Group is the formal administration of insolvencies including receiverships, liquidations, administrations, company voluntary arrangements and business-related personal insolvencies. The Group has extended its activities into a range of consultancy services including corporate rescue, credit management, forensic and investigation services and corporate finance.