UK entrepreneurs have been warned about planning an exit strategy from their business.
According to Deloitte's Entrepreneurship UK:2008 survey, 74 per cent of entrepreneurs are risking the long-term success of their business by not making a plan of how they will exit the company.
It also found that 72 per cent of founders remain involved in the day-to-day running and 39 per cent have no exit plan in place at all.
Some 35 per cent of respondents said they will wait for a third-party offer for the business.
Tony Cohen, head of entrepreneurial business at Deloitte, said the lack of exit plan can leave them "unprepared and at a disadvantage".
"With entrepreneurial businesses, it is vital to plan for the future, growing the value and attractiveness of the business by implementing a clear development strategy from the beginning, including putting in place a strong management team to lead the business following the eventual departure of the entrepreneur," he added.
Deloitte was recently named the second most sought-after graduate employer in the High Fliers Top 100 Graduate Employers list.
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