Starting a new business is tough. Any of the City’s young and hip new chief execs could tell you this, but who thought a morning coffee was at the route of the problem?
Apparently, entrepreneurs are wasting around £6,000 every year just by waiting for big meetings.
In an average week, entrepreneurs spend around £700, but 16 per cent of that is just to pass the time between meetings, according to research from members club group The Clubhouse.
The research showed that London’s entrepreneurs and businesspeople are throwing away an average of £5,824 a year in cafes, hotel lobbies and private members clubs. While some of this goes on the necessities like overnight accommodation, the rest is largely on cups of tea and coffee they probably didn’t really want in the first place.
Per week, the average City worker gets through £50 just on tea, coffee and snacks. Throw in a few newspapers, taxis and meals at Pret and the total reaches an annoying £160.
Bosses at The Clubhouse are aiming to get around these costs, launching an equity crowdfunding round to help set up three new venues in London. Clever.