Phoenix founders 2024
Rising from the ashes
In partnership with Charles Stanley, we investigate entrepreneurs whose previous business failures have led them to find success in a new venture.
There are 669 phoenix founders operating businesses in the UK. These are those founders who have found business success following the failure of a previous venture.
This report finds that almost two-thirds of business owners claim their current business is their most successful, despite their previous experience of failure. Experience in business can be a key factor in success, these experiences lead to lessons learned which can help inform future decision-making. Almost half of business owners state that the failure of a previous business has helped in the success of their current one.
It appears that most founders feel their experience and knowledge are transferable, with 66.2% of founders choosing to operate in a different sector from that of their previous business. Most phoenix founders operate in the broader software industry, specifically in the Internet platform and Software-as-a-service space.
Download the report
Inside the report
About the authors
HENRY WHORWOOD
Henry leads our Research & Consultancy team, and is an expert on equity finance and high-growth business. He's worked on briefs for the likes of Barclays, SyndicateRoom, Innovate UK, Smith & Williamson and British Business Bank. He regularly gives presentations on market trends at events around the UK.
DANIEL ROBINSON
Daniel conducts data manipulation and analysis as part of the Research & Consultancy team. He has a background in business analysis and commercial copywriting in Australia and the UK, having worked at The Sunday Times Fast Track, Oxford University Press, and advertising network MullenLowe Group.
FREYA HYDE
Freya performs graphic design and data visualisation in the Research & Consultancy team. She has worked on projects for clients including Barclays, EY and JP Morgan. Freya holds a BA in History (International) from the University of Leeds, which included a year at Fudan University in Shanghai.
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