Elder siblings ''more likely to start a business'' - commercial mortgages

03 December 2007

Eldest children are most likely to start their own business and hence perhaps take out commercial mortgages, according to new research from Barclays.

The bank''s study has found that 41 per cent of UK entrepreneurs are the first-born in their family, while just 27 per cent said that they were the youngest sibling.

A correlation was also drawn between age and experienced investment, with 22 per cent of London entrepreneurs having owned at least three businesses and 44 per cent being the eldest brother or sister.

"Perhaps the experience of helping to look after younger brothers and sisters early in life is a breeding ground for good management skills giving our oldest children a head start when it comes to business," suggested Barclays Local Business marketing director John Davis.

The Bank of England could provide small businesses with a helping hand this week when it meets to set the base rate of interest for December.