What Drives Entrepreneurs to Launch—and to Leave

Report reveals financial reward to be one of the least important drivers in starting a business 

Arbuthnot Latham’s report has revealed that one of the least common motivations for entering entrepreneurship was long term financial reward. Interestingly, the prospect of greater long–term financial reward is much more important to those still involved in their businesses versus those who have exited.  

While 37% of those still running their businesses cite long-term financial reward as a key motivator, this drops to just 16% among those who have exited. Instead, exiters were more likely to be driven by commercial opportunity (41%) and the desire to solve a problem (27%). Once they had achieved their business goals, they were ready to sell. In contrast, those still involved are more likely to view their business as a passion project (67%), shaping their entrepreneurial journey through a different lens. 

Arbuthnot Latham spoke with Steve Broughton, an entrepreneur who started his own business at 29, to explore what drove him to delve into the world of entrepreneurship himself: 

Steve Broughton, owner of the UK’s largest independent cleaning company, said: “I realised I wasn’t driven by the corporate game. I wanted freedom and independence—things I couldn’t find in a traditional job. I wasn’t motivated by money or an exit strategy when I started. It was about living and dying by my own sword. I loved the idea that every effort I made was for me, and I was the one who would reap the rewards or face the consequences.  

“One of the biggest challenges was not knowing what I didn’t know. When you don’t have experience, you learn through trial and error, which can be painful. 

“Another major hurdle was scaling the business. Every time we hit a new revenue milestone – £1 million, £3 million, £5 million – there were new challenges, mostly around managing people. Hiring and motivating the right team was incredibly difficult. I underestimated how much time I needed to devote to training and developing my employees. Looking back, I wish I had spent more time on that, rather than trying to do everything myself.” 

“…On a personal level, the emotional side of exiting was difficult too. Selling the business felt like giving away part of my identity. You don’t realise how much a business becomes part of who you are until you’re faced with letting it go.” 

Kevin Barrett, Managing Director of Private & Commercial Banking, Arbuthnot Latham comments on the results and the emotional and strategic complexities of business exits; 

“Exiting a business is one of the most significant decisions an entrepreneur can make. It’s not just a financial transaction but a deeply personal and emotional transition. This report highlights the diverse triggers for an exit, from achieving goals and seeking new challenges to personal wellbeing and external factors like market dynamics and tax policies.  

For many, the exit journey begins with understanding their motivations. Entrepreneurs who aligned their exit plans with personal and professional goals were more likely to experience satisfaction. However, those who lacked clarity or preparation often faced emotional and logistical challenges. 

The due diligence process emerged as a pivotal, often grueling stage, testing resilience and readiness. Entrepreneurs who built a trusted team of advisers and started planning early navigated this phase more effectively. Yet, even with preparation, the emotional toll of letting go – a loss of identity and purpose – remained a common theme. 

Life after the exit brings its own challenges and opportunities. While some entrepreneurs embraced family time, hobbies, or philanthropy, others sought lighter involvement through advisory roles or investments. For most, the post-exit phase was an opportunity to redefine purpose and success on their own terms. 

And in the words of a respondent which reflects entrepreneurs’ spirit: “I’ll never be too far from building something new – it’s in my DNA. But whatever comes next will be driven by passion, not necessity.” 

For the full report, please visit Arbuthnot Latham – Beyond the Balance Sheet  

Sources and Methodology 

Arbuthnot Latham conducted in-depth interviews with 100 UK business owners, all holding 100% ownership of businesses with a minimum turnover of £1m (29% exceeding £5m), in collaboration with leading consultancy The Wisdom Council, to explore the human side of business exits – how they balance wellbeing, financial goals, and the complexities of letting go. Shining a spotlight on the people-side of the process, thoughtful financial planning helps navigate the complexities with clarity and confidence.