A new report from UK private bank Coutts, Life after Exit, looks in detail at what entrepreneurs do with their time after selling up. Only a quarter (27 per cent) actually retire following the sale of their business, while most follow a "portfolio career".

The study reveals 74 per cent advising another business, 65 per cent investing in another venture and 50 per cent embarking on a philanthropic journey. Furthermore, more than half (54 per cent) go on to start up a second business of their own.

And post-exit, it takes longer to build a new phase of life than one might think. A third of entrepreneurs (34 per cent) managed to find a lifestyle they were happy with in the first year, 54 per cent said it took them up to four years and 12 per cent took more than four years to get the balance they want.

Coutts found the majority were united in what they saw as the key things that they miss post-exit, which were growing something of value (96 per cent) and interaction with people (89 per cent). Just one in three (33 per cent) claimed that they miss being in control - but nearly half miss the day-to-day involvement in a business (44 per cent). Only 5 per cent miss the pressure that comes with running a business.

But 59 per cent say it is hard to walk away entirely from being involved with business: 56 per cent say they would start and run a new business if they found the right opportunity; 51 per cent think that building one business makes you more confident to do it all again; and 21 per cent would take the opportunity to buy into and run another business if the idea was right.

On the other hand, some have had enough: 23 per cent say they will never go back to running a business; 5 per cent say “you only have one good business in you”; and half had no plans for the future in place before they exited.

Finally - and encouragingly - 71 per cent end up seeking wealth management advice at some point before or after exit.