Don't Get Small Business Loan Advice From Celebrity Experts

February 15, 2010

Don't Get Small Business Loan Advice From Celebrity Experts

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Celebrity culture has invaded every part of our lives and its no different when it comes to small business experts – but if you want to get ahead you shouldn't listen to the so-called experts on TV.

Thankfully most small business people in the UK are not listening to the likes of Sir Alan Sugar or the dragons of Dragons' Den. According to Nottingham University Business School there is some frustration from people running small businesses that media portrayals don’t match their experiences and the challenges they face.

Only 11% of small business people thought the glossy small business experts on TV understood their experiences. Also, only 20% were able to say that media reporting reflects their experiences highly or reasonably highly, while 35% said that it does not reflect their experience at all, or not much. 

In fact, over 70% of respondents said that they thought it would be highly worthwhile or reasonably worthwhile for some small business advisers to work directly with media to improve the quality and coverage of smaller businesses.



Professor Martin Binks, director of the University of Nottingham Institute for Enterprise and Innovation says: “These views raise important questions as to where people can find accurate information on which to base decisions about being an entrepreneur."

It's good to see that small business owners don't take much notice of the reality celebrities. The twits on TV will not be able to help them run their business day-to-day, they have no understanding of what you need to do if you are struggling to get by as a small business person in the real world.

A small business adviser actually understands the financial problems small business people face. They do not do their business in a studio and they do not need lights and cameras to sound like they know what they are talking about. Small business advisers are real people living in the same world as all the struggling small business borrowers out there. They will be able to talk to you on your level and will give you real advice for the real world.

SOURCE: Nottingham Business School, 11/02/10

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