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Univariate and multivariate tests were conducted to assess the difference between novice, portfolio and serial founders. No marked differences were observed among the three types of entrepreneurs in terms of main industrial activity, geographical location and business age. On the other hand, considerable differences were noted between portfolio and serial entrepreneurs when parental background, work experience and age related to starting first business operation were taken into consideration.

A survey of enterpreneurs in the UK revealed that there are at least eight principal reasons why these managers decided to start up their own business. Among these factors are the need for approval, need for independence, need for personal development, welfare considerations and perceived instrumentality of wealth. In addition, these businessmen believed that they should follow their role models and considered the tax reduction and indirect benefits of putting up a business. Majority of these businessmen were categorized as insecure by the researchers.