The study, which asked Britain’s SME bosses what they would do with their 2007 profits should they exceed their targets this year, found that over half of them would re-invest the money in the business.
However early retirement is a close second with 48% of British bosses saying that they’d use the profits to enjoy the ‘good life’ a little earlier. 18% would use the money to take an early retirement immediately while 30% would invest elsewhere to create an early retirement fund. A further 29% would spend any excess profits.
Scottish bosses were most likely to reinvest profits into the business, while those in the South West were most likely to spend any windfall. Londoners were most likely to invest windfalls elsewhere for an early retirement.
Ian Wilson, managing director of Abbey Business Banking, said: Britain’s bosses are an entrepreneurial lot with nearly three-in-five of them planning to put this year’s profits to good use by investing in the future of their business. However, early retirement too is a popular home for profits, with nearly half of those questioned using excess profits to bring forward the day that they can pack it all in and enjoy the fruits of their labor.
