What makes an entrepreneur? Drawing on the results from the Hiscox DNA of an Entrepreneur Report 2016 – a study of 4,000 entrepreneurs from the UK, US and across Europe – here are the ten qualities that mark out the successful entrepreneur and small business owner.

Ambition

Entrepreneurs who achieve success are not short of ambition and are fixed on delivering against their targets.

Resilience

You can’t put a good entrepreneur down. They’ll keep coming whatever the obstacles. In the Hiscox DNA of an Entrepreneur report, the Spanish showed particular resilience in the face of concerns about tax and bureaucracy by being the most active innovators over the past three years and working the longest hours.

Confidence

Being assured of your abilities is a trait shared by most entrepreneurs but the Hiscox study found that the French, Germans and Dutch are the most confident when labelling themselves as entrepreneurs.

Energy

Persistent and relentless networking and professional development takes energy. Entrepreneurs have it in spades.

Drive

Closely linked to energy is the drive to keep going. The Hiscox study found that over half of the entrepreneurs it surveyed have plans to launch a new service or product in the next twelve months.

Optimism

A glass half full approach is an attitude shared by entrepreneurs and according to the Hiscox report, optimisim levels are at the highest level seen in the last three years with US entrepreneurs seemingly the most optimistic.

Hunger

An entrepreneurial mindset is all about desiring gain more than fearing loss.

Extroversion

Hardly shrinking violets, entrepreneurs are always on the lookout for commercial opportunities.

Numeracy

Getting a handle on the figures is key.

Self discipline

According to the Hiscox study, small business owners and managers work an average of just over 42 hours a week. For 20% it’s an even tougher week at over 60 hours a week.

Do you agree with our top ten? If you’re setting up or currently run your own business, how many of these qualities do you share and which others do you think are critical for a successful entrepreneur?

Read the Hiscox DNA of an Entrepreneur Report 2016 in full

Find out more about Hiscox: www.hiscox.co.uk/startup4ten