Many look up to the most famous entrepreneurs Of our time Bill gates, Elon Musk, Jeff Bezos - As fine examples of self- made successes. But One of the things they share is how they got Started, and more importantly, who helped Them in the beginning, argues a piece in the Guardian. All of these men came from upper Middle class families that made an active effort To help them in the early stages of their careers, The guardian report. It was Bill gates's mother Who introduced him to executives at IBM, Helping him to forge a deal for the operating System MS - DOS. Jeff Bezos's parents were Early investors in Amazon and Mark Zuckerberg Started Facebook after taking a $100,000 loan From his father. Similarly Musk came from a Wealthy south africa family and Michael Dell's Parents seed money was a support for his The Fledgling business.While none of these success stories are solely Attributable to the aid of their parents, family Money does play a role when It comes to Starting a business. Help from family is one of The most common sources of early funding for Startups. More than loan and venture capital. A new study confirms that the more money One's parents have, the better. There is a strong Connection between your parent's income and Your chances of becoming a startup Entrepreneurs, with those from a strong Financial background having a higher chance of Becoming entrepreneurs, said Shira Greenberg The chief economist at Israel's minister of Finance, in a report conducted by his agency And reported by The Jerusalem Post. The study Looked at Israel entrepreneurs from the ages of 25 and 35. It found that the income of an Entrepreneur's parents was the most important Factor when it came to the likelihood of starting A business, report the guardian. Having strong Financial support can help someone who is Interested in setting up a startup and providing A financial safety net in the cash of failure, the Report said. The new report echoes the findings Of a 2013 study that found the shared traits of Entrepreneurs were that most were white, male And highly educated. The study, conducted by University of California, Berkeley economists Ross Levine and rona Rubenstein, found that Not having family money reduces the chances Of someone becoming an entrepreneur. It's not Just money, either. The Israeli study found Strong correlations between the parents level of Education and entrepreneurship particularly if The parent had a science and technology Background. While family money certainly plays A role. It is not in and of itself enough to make Someone a success, particularly at the scale of Gates, must or Bezos. A great idea, work ethic And a touch of luck are all significant Components, But a little support from mom and Dad certainly doesn't hurt..........
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