A study by the University of Portsmouth Business School has shown that a large number of British entrepreneurs in Spain end up losing everything because of lack of research into running a business here. The report said that because of inadequate preparation, many expatriates who start a business lose not only their money but also their homes. The Portsmouth Today newspaper said the researchers studied the strategies and risk attitudes of expatriate entrepreneurs from both the UK and Germany and found that many of the Britons wrongly believed that regulations on employment and business are standardised throughout the European Union. As a result, they knew very little about procedures in Spain. Others lacked a basic knowledge of the Spanish language. One of the researchers, Laura Wilson-Edwardes, said one of British entrepreneurs was living with his family in a rented caravan somewhere along the Costa “because they were too embarrassed to admit their situation to their family back home”.