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1、foundersPhoenix2024Rising from the ashesContents03.What and who are phoenix founders?10.Phoenix founder:Dr Jelena Aleksic04.In scope founders11.Fortune favours:Failing to succeed01.Foreword08.Phoenix founders company sectors02.Introduction:why phoenix founders?09.Sector ranking05.Phoenix founder dem

2、ography12.Conclusion06.Serial founder demography14.Methodological note07.Phoenix founder:George Lineker15.About usPhoenix founders:rising from the ashes|2024|01.Entrepreneurs and business founders are vital in driving innovation and growth in the UK.This report looks into phoenix and serial founders

3、 and researches the challenges that both groups face.Historically,the UK has been successful at promoting entrepreneurship,and this continues today,as seen by the rise in the number of high-growth businesses.It remains fast and inexpensive to register a business in the UK,with most online applicatio

4、ns being processed within 24 hours and costing as little as 12.Alongside this,the UK has a large supply of skilled talent and offers plenty of government support for startups,including grants and loan schemes.The importance of entrepreneurs cannot be underestimated;they are responsible for creating

5、small and medium enterprises(SMEs),which comprise 98%of the UKs private sector firms.These businesses create employment opportunities,boost productivity through competition and foster innovation throughout the UKs economy.Some challenges remain for entrepreneurs in the UK.As this report shows,an ent

6、repreneurs path is rarely linear.Success often only comes after failure.Finding a successful and scalable business proposition is just the first step on a difficult path with challenges posed by regulation,competition,and access to capital.Furthermore,geopolitics and other sector-specific pressures

7、can all influence the success of entrepreneurs ventures.However,silver linings can emerge when a business fails.According to our research,almost two-thirds of business owners claim that their current company is their most successful despite their previous experience of failure.Hopefully,this finding

8、 proves to entrepreneurs that your first business does not have to be the one that makes you successful,but it can provide you with experience that may be critical to the success of your future ventures.The current environment in the UK is turbulent;this may discourage some,but with changes in the e

9、conomy also come opportunities.This report proves that failure does not always need to prevent entrepreneurs from starting their business journeythey should,therefore,feel inclined to seek out these opportunities.We hope this research sheds light on some of the complications and challenges starting

10、a business entails and that the examples of some of the incredible entrepreneurs we showcase inspire some to start and encourage others to keep going.ForewordHistorically,the UK has been successful at promoting entrepreneurship,and this continues today,as seen by the rise in the number of high-growt

11、h businesses.“Andrew Meigh Managing Director of Financial Planning at Charles Stanley Phoenix founders:rising from the ashes|2024|02.Introduction:why phoenix founders?Being an entrepreneur is challenging,the path is fraught with difficulties and setbacks.This report aims to dispel the myth that the

12、success entrepreneurs achieve is the result of a linear,straightforward journey.The story of a phoenix founder is particularly compelling.These are founders who have experienced a failure in one business but have risen from the ashes to start a new venture that is now succeeding.The journey of these

13、 entrepreneurs highlights that failure is not the end,but can act as a stepping stone for greater success.Failing and starting again is a daunting prospect.It requires not just the courage to face potential failure again,but also the wisdom to learn from past mistakes.Yet,for these business owners,i

14、t is often the process of failing and rising again that leads to success.Its important to acknowledge that there is a range of pathways entrepreneurs can follow,demonstrating that there is no single formula for success.This includes a group of entrepreneurs called serial founders:those who have succ

15、essfully exited a business and are currently running a different successful venture.Parallel founders are those who currently run two successful businesses at the same time.Phoenix founders exemplify the essence of entrepreneurship resilience,innovation and the relentless pursuit of success despite

16、previous setbacks.Their stories are not just inspiring but they provide an insight into the dynamics of business creation,failure,and rebirth.These are founders who have experienced a failure in one business but have risen from the ashes to start a new venture that is now succeeding.“Phoenix founder

17、s:rising from the ashes|2024|03.A phoenix founder is a founder who is finding success with a current venture after a previous business has failed:their new business has risen(directly or metaphorically)from the ashes of their old one.The experiences had during the running of a failed business lead t

18、o lessons learned,which can ultimately help inform decision-making in subsequent ventures.These lessons can also help make phoenix founders adaptable,with most founders starting businesses in different sectors from their previous companies.This finding points to a key factor in the success of entrep

19、reneurs.Entrepreneurs,and phoenix founders in particular,look for new opportunities rather than fixating on attempting to correct past mistakes,even if this means operating in unfamiliar industries.This report also looks at a different group of entrepreneurs,called“serial founders”,of which there ar

20、e 428 in the UK.These entrepreneurs have founded multiple companies and successfully exited a business.Phoenix and serial founders are two distinct groups,and there is no overlap between the two cohorts within this analysis.Serial founders may experience differing motivations from phoenix founders.T

21、his could be the passion they have found in the running of their previous business or the resources they have gained that now allow them to pursue a new project that would not have previously been possible.The presence of serial founders in the UK ecosystem is a positive sign,as entrepreneurs are re

22、sponsible for recycling innovation and creating the smaller enterprises that make up the majority of businesses operating in the UK.This rarefied group represents some of the UKs most dedicated and resilient founders.The remainder of the founders Beauhurst tracks have only founded one business.The e

23、xperiences had during the running of a failed business lead to lessons learned,which can ultimately help inform decision-making in subsequent ventures.What and who are phoenix founders?“Phoenix founders:rising from the ashes|2024|04.In scope foundersThere are 44,700 active founders of businesses in

24、the UKs high-growth ecosystem,of which 669 are phoenix founders.Phoenix founders are distinct in having experienced the failure of one business before their current venture.There are more phoenix founders in the UK than serial founders.This finding may be because it is very difficult to exit a busin

25、ess,as explored in our previous report:Exits in the UK:IPOs and Acquisitions,and it is far more likely that a company will fail.It is also true that many entrepreneurs will not have plans to exit their businesses,are not prepared to exit or have missed the chance to exit at the right time.Total foun

26、ders of active high-growth UK companies(2023)1,114parallel foundersfounders of active,high-growth companies 428serial founders669phoenix founders44.7kPhoenix founders:Founders who have experienced a failure with one company before starting their current venture.Serial founders:Founders who have succ

27、essfully exited a company before embarking on their current venture.Parallel founders:Founders who are running multiple concurrent companies.Phoenix founders:rising from the ashes|2024|05.Phoenix founder demographyPhoenix founder companies:top five sectors669Population of phoenix foundersKey figures

28、(2013-H1 2023)Female founders are better represented among the phoenix founder population than serial founders,accounting for 12.4%of the total population.While the founder population is still more male-dominated than the wider UK high-growth ecosystem,where 80.4%of founders are men,there is a highe

29、r proportion of female phoenix founders than female serial founders.The ranking chart outlines the top sectors for the phoenix founders currently active companies.Internet platform is the most common sector for phoenix founder businesses,with 132 companies.Most companies remain in the same broader s

30、oftware space,similar to serial founders,but with the introduction of food and drink processors as the fifth most common sector.Phoenix founders have,on average,founded fewer companies than serial founders,at 2.11 and 2.27 companies per founder respectively.Phoenix founders may be at an earlier stag

31、e in their entrepreneurial journey or do not yet have the resources to have founded multiple companies since they have yet to have a successful exit.12.4%Female87.6%MaleGender split among phoenix foundersInternet platformSoftware-as-a-service(SaaS)Analytics,insight,toolsMobile appsFood and drink pro

32、cessors109132127984645 yearsMedian age of phoenix founders1,413Total number of companies founded by phoenix foundersPhoenix founders:rising from the ashes|2024|06.Serial founder demographySoftware-as-a-service(SaaS)Internet platformAnalytics,insight,toolsMobile appsBusiness banking and financial ser

33、vices4896529792Serial founder companies:top five sectors428Population of serial foundersKey figures(2013-H1 2023)With a median age of 47,serial founders tend to be older than phoenix founders,who have a median age of 45.Among serial founders,there is an even greater gender inequality compared with c

34、ompanies in the UKs high-growth ecosystem,with 94.6%of founders being male.The 428 founders that have been captured in this report have been responsible for creating over 900 companies.The sector ranking below shows the top sectors in which the live companies of serial founders operate.The SaaS sect

35、or is the most common for these businesses,with 9.95%of companies having some operations in this space.Overall,there is a clear concentration in the broader software industry,which includes the Internet platform and mobile app sectors.Founders often opt to launch companies in the technology sector,a

36、ttracted by the opportunities presented by this rapidly expanding industry.Companies in the broader high-growth ecosystem are concentrated more in the business and professional services sectors rather than in technology and software.94.6%5.40%MaleFemaleGender split among serial founders47 yearsMedia

37、n age of serial founders975Number of companies founded by serial founders Phoenix founders:rising from the ashes|2024|07.George Lineker is the co-founder of London-based YourBusinessNumber.Lineker,alongside business partner Sebastian Lewis,recognised the potential to capitalise on WhatsApp Business

38、and founded YourBusinessNumber in 2021.WhatsApp Business allows business operators to separate their business and personal accounts.With millions already using WhatsApp,communicating with customers can be sped up through using this pre-existing channel.YourBusinessNumber looks to take advantage of t

39、his by providing businesses with additional numbers to be able to use this service.The success of YourBusinessNumber comes after Linekers previous business,Flipper,was dissolved,making him one of the 669 phoenix founders in this report.Lineker leveraged existing resources for YourBusinessNumber,stat

40、ing,“We had access to mobile numbers through my business partner,so we decided to build a service for WhatsApp Business that was fast,affordable,and simple.”While anticipating UK growth,Lineker also aims to expand to other countries with high WhatsApp usage,like Germany,Brazil,and India.YourBusiness

41、Number already serves US businesses,so the international expansion has a track record.Linekers previous venture,Flipper,founded in 2014,operated in a similar industry to YourBusinessNumber,providing existing phones with new UK mobile numbers.Flipper was dissolved in 2021 but has been a source of lea

42、rning for Lineker.When we asked Lineker about how this has influenced his current venture,he emphasised the importance of having“the right team,whether in-house or outsourced.”He also advises entrepreneurs to“keep their business simple,especially in the early stages”by focusing on offering a product

43、 that is“easy to use and offers people a helpful solution.”YourBusinessNumber was originally self-funded but has received 400k in equity fundraising in 2022,and a total of almost 800k in funding since inception.Part of the businesss investment came from footballer Gary Lineker,George Linekers father

44、,despite Georges original resistance to his fathers investment due to concerns about the backlash he might receive as a result.The investment Lineker has received will be used to achieve his goal of global expansion and continue the companys impressive growth.Lineker encourages aspiring entrepreneur

45、s,highlighting the current ease and affordability of starting a business“its cheap to register a business and build a basic website”states Lineker,adding that technology allows all this to be done from home.He stresses the importance of a strong team ethos as well as setting ambitious targets.YourBu

46、sinessNumber has already seen high levels of growth,but Lineker still has his sights set on more:“We have recently acquired over 10k customers and were very motivated on getting the next 10k and beyond that,reaching these targets is what motivates us.”“Phoenix founder:George LinekerWe have recently

47、acquired over 10k customers and were very motivated on getting the next 10k and beyond that;reaching these targets is what motivates us.Phoenix founders:rising from the ashes|2024|08.Phoenix founders company sectors,current vs previous businessWhen starting up a new business following the failure of

48、 their previous one,phoenix founders are much more likely to operate in a new sector.Our data shows that two-thirds of phoenix founders new businesses are in a new sector compared to their previous failed businesses.Less than 2.5%of phoenix founders choose to start their new business in the same sec

49、tor as their last one.This behaviour may be due to a negative experience in that sector or because founders realised there was insufficient opportunity or they did not have the knowledge of the sector to operate successfully.One founder operating in a new sector is Andrew Jennings.His previously fai

50、led business,BerryWhite,manufactured a range of organic food and drinks.He has subsequently co-founded Manchester-based Frost,a financial services company that operates a digital banking system through a mobile application.Charlotte Rosier was the co-founder of Cuckooz,which provided high-end servic

51、ed apartments for short to medium-term rents,as well as tourist-focused services.Since the closure of Cuckooz,Rosier has founded Babbu,a London-based firm that has developed a digital education platform for parents with young children.Some entrepreneurs maintain a partial connection to their origina

52、l sector while exploring new avenues.This is seen by the 31.4%of founders whose new company operates in at least one of the same sectors as their previously failed one.This approach allows them to stay rooted in their core industry but with an evolved business model or focus,addressing different cha

53、llenges or capitalising on technological advancements.This strategic shift enables them to stand out and potentially succeed in a competitive landscape,demonstrating adaptability and resilience in the face of past business setbacks.2.37%31.4%66.2%669 founders with at least one failed companyFounders

54、 with a new company in exactly the same sector as their failed company Founders with a new company operating in at least one of the same sectors as their failed companyFounders with a new company in entirely newsectors compared to their failed companyPhoenix founders company sectorsPhoenix founders:

55、rising from the ashes|2024|09.Sector rankingTop sectors for previous companyTop sectors for live companiesInternet platformSoftware-as-a-service(SaaS)Analytics,insight,toolsMobile appsFood and drink processorsEducational servicesMarketing servicesBusiness banking and financial servicesAdvertising an

56、d branding servicesE-commerce109132127983439462827311321103939503075242631Mobile appsInternet platformSoftware-as-a-service(SaaS)Analytics,insight,toolsFood and drink processorsE-commerceMarketing servicesSocial networkBusiness banking and financial servicesEducational servicesThe charts above show

57、the top sectors in which phoenix founders companies operate.Previously,these founders predominantly operated within the mobile apps sector,but this has since become a less popular industry.This shift may be due to the increasing market saturation or the difficulty in generating revenue since most ap

58、ps are free.Internet platforms and Software-as-a-Service(SaaS)remain popular sectors for active phoenix founders businesses,a testament to the continued growth within the broader software industry.The reduction in the number of companies operating in the mobile app and social media space aligns with

59、 broader industry trends.More founders may be venturing into the SaaS and Internet platform sectors because of the faster development cycles seen in these industries.This may attract these types of entrepreneurs as they can capitalise on these fast-moving sectors.Phoenix founders:rising from the ash

60、es|2024|10.Phoenix founder:Dr Jelena AleksicDr Jelena Aleksic is co-founder and Chief Business Officer(CBO)of PharmEnable.The Cambridge-based company uses existing collections of medical compounds and its testing programmes to discover new chemical bases that can be turned into new medicines.Aleksic

61、 co-founded the company in 2019,following the failure of her earlier business,GeneAdviser,which closed in 2018.Aleksics pivot to PharmEnable exemplifies her experience as a phoenix founder and shows how an entrepreneurial journey is always challenging.Aleksic,reflecting on the transition from GeneAd

62、viser,emphasises the significance of adaptability in the face of technological shifts,particularly in genomics and healthcare.“It was initially a success,working with 15 different countries.But advances in DNA sequencing meant the process became cheaper,which undercut our business model.The work was

63、nt wasted,though.We told the NHS all about the system and they saw its potential,so they took it on.Im proud to say they still use it.”1Initially self-funded,PharmEnables novel approach to drug discovery has attracted equity investment,demonstrating investor confidence in the ventures potential.It h

64、as raised 9.66m to date via four deals with investors,including o2h Ventures,the University of Cambridge Enterprise Fund,and Martlet Capital.In her advice to emerging entrepreneurs,Aleksic stresses the importance of resilience and the readiness to navigate and respond to industry changes.She views h

65、er entrepreneurial journey as a testament to the necessity of strategic foresight and the ability to adapt business models to new scientific and technological realities.Aleksic has written a book The Entrepreneur Survival Guide to help guide others through the challenges of starting and growing a bu

66、siness.She is also a business mentor at the P4 Precision Medicine Accelerator at UCL,guiding startups through the intricacies of the precision medicine landscape.Looking ahead,Aleksics ambition for PharmEnable extends beyond business metrics to making a tangible impact on global health:”At PharmEnab

67、le,we are developing a pipeline of novel therapeutics.”The company aims to translate its research into therapies for challenging diseases,demonstrating a commitment to positively influencing patient outcomes worldwide.“Aleksic stresses the importance of resilience and the readiness to navigate and r

68、espond to industry changes.1 Hall,Simon.“Jelena Aleksic:The Playing with Fire,Poetry,and the Powerlifting Path to Success.”Women Ahead of Their Time.Accessed 30 January 2024.https:/ founders:rising from the ashes|2024|11.Fortune favours:Failing

69、 to succeed Why entrepreneurs and owners stop working on a business31%have at least one failed businessThe Charles Stanley business owners survey highlights resilience(conducted August 2023)Whilst all entrepreneurs business journeys differ,failure may be a common chapter in their stories.The researc

70、h,encompassing insights from over 500 UK entrepreneurs reveals 31%of business owners admit to having at least one failed business.Within this group of entrepreneurs,15%stated they had just one failure,10%had two and 6%had more than two.This finding demonstrates the importance of resilience;these bus

71、iness owners prove that the failure of a business should encourage entrepreneurs to attempt to start future ventures.There were varying options when it came to the outcome of the failed business,with the most common outcome being that the business was sold because it wasnt successful(31%).Other outc

72、omes included merging it with another current business(18%)or passing it onto a relative(13%).Some positives can be drawn from the experience of a business failure when it comes to an entrepreneurs future journey.Almost half(47%)of business owners stated that the experience of a failure of a previou

73、s business has helped make their current one a success,with two-thirds of these claiming that this is the most successful business they have ever had.These findings demonstrate the value that phoenix founders add to the UK economy since they now have a successful business.The failure of a business m

74、ay cause entrepreneurs to doubt their chances of success;however,64%of business owners admit that their business is more successful than they thought it would be.This proves that entrepreneurs should be courageous following a business failure,as their success could be just on the horizon.12.9%Passed

75、 the business on to a relative14.8%Ceased trading17.8%Merged the business with their current one23.8%Just sold the business30.7%Sold because the business wasnt successful47%say their previous experience helped their current business6%have more than two business failuresPhoenix founders:rising from t

76、he ashes|2024|12.This report delves into the narratives of two distinct groups of entrepreneurs:serial founders and phoenix founders.The journey to success for these entrepreneurs is far from straightforward,marked by a series of trials,learning curves,and eventual triumphs.Within the UK,the presenc

77、e of more phoenix than serial founders may point to the challenges found in business exits or a lack of a strategy where the conclusion of the business is some form of exit.The insight and expertise gained from past ventures play a crucial role in shaping these entrepreneurss decision-making process

78、es as they navigate the complexities of launching new businesses.Phoenix founders,who are often younger than their serial counterparts,should view each setback as a foundation for future success.Despite past failures,the resilience and determination to succeed underscore the exceptional character th

79、at phoenix founders show.Whilst experience is important for entrepreneurs,phoenix founders stand out for their propensity to explore diverse industries.This approach allows them to take advantage of untapped opportunities and quickly reposition themselves in burgeoning sectors.This speaks to the ada

80、ptive nature of phoenix founders in responding to economic trends and potential new growth areas.The essence of entrepreneurship,as depicted by phoenix founders,is one of resilience,innovation,and an unwavering commitment to success despite prior setbacks.Their journeys from failure to success not o

81、nly represent personal triumphs;they are also testaments to the supportive networks,mentors,and sources of inspiration that have guided them along the way.In summary,this exploration of serial and phoenix founders sheds light on the multifaceted nature of entrepreneurship.It underscores the signific

82、ance of persistence,learning from failures,and the critical support systems that enable entrepreneurs to navigate the journey of business creation.The remarkable ability to rebound from failure and achieve success not only reflects individual tenacity but also underscores the collective wisdom and s

83、upport that shapes the entrepreneurial landscape.Entrepreneurs may be particularly in tune with trends in the economy,which could lead them to attempt to enter new markets as they see potential future growth opportunities.Conclusion“Phoenix founders:rising from the ashes|2024|13.The value of investm

84、ents can fall as well as rise.Investors may get back less than invested.Charles Stanley&Co.Limited is authorised and regulated by the Financial Conduct Authority.Call 020 3936 4801An entrepreneurs path is rarely linearWith 31%of business owners having at least one failed business,Charles Stanley und

85、erstand that being able to take care of the day-to-day is essential if you are to focus 100%of your energy on your enterprise.Financial planning aims to help you understand future income and spending needs making sure you have the right funds in the right place at the right time.Whatever your path,C

86、harles Stanley is here to help you manage your wealth effectivelyPhoenix founders:rising from the ashes|2024|14.This report is focused on 669 phoenix founders,a subset of the 44.7k UK entrepreneurs who have each started at least one currently operational high-growth company.Phoenix founders are char

87、acterised by their unique journey of having endured the collapse of a prior business before launching their present venture.Definitions Phoenix founders:Entrepreneurs who,after the failure of a previous company,start a new company.Serial founders:Entrepreneurs who have an active company following th

88、e successful exit from a previous company.Parallel founders:Entrepreneurs who concurrently manage multiple companies.High-growth companies Beauhurst identifies high-growth and ambitious companies using eight triggers that suggest a company has high growth potential.More details on Beauhursts trackin

89、g triggers are available at .Methodological notePhoenix founders:rising from the ashes|2024|15.About usContact 4th Floor,Brixton House385 Coldharbour Lane London SW9 8GL+44(0)20 7062 Beauhurst is a searchable database of the UKs high-growth companies.Our platform is trusted by thousands of business

90、professionals to help them find,research and monitor the most ambitious businesses in the UK.We collect data on every company that meets our unique criteria of high-growth;from equity-backed startups to accelerator attendees,academic spinouts and fast-growing scaleups.Our data is also used by journa

91、lists and researchers who seek to understand the high-growth economy,and powering studies by major organisationsincluding the British Business Bank,HM Treasury and Innovate UKto help them develop effective policy.For more information and a free demonstration,visit Contact 55 Bishopsgate LondonEC2N 3

92、 3936 4801Charles Stanley is one of the UKs leading wealth management firms,providing a wide range of financial planning and investment services.With over 20 offices across the UK you are never far from one of our experts.Our focus on clients has endured since our founding in 1792 and we have created financial security for many tens of thousands of people.Editor Henry WhorwoodProduction Dan Robinson,Advone Katsande,Blanca Valencia,Bila Turay,Harry Walker,Justin TsuiDesign Freya Hyde,Evangeline Luckhurst Beauhurst 2024



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