A quarter of Brits wish they could start their own business
Published: 03 December 2015
A quarter of adults in the UK wish they could start their own business, but many are held back by fear of personal and financial risk. In a survey of 1,500 people, conducted by social enterprise Cause4, it was revealed that Britain’s taste for entrepreneurship is strong. Motivations vary but one in ten people wanted to go it alone because of a lack of motivation or inspiration in their current job.
“The job for life is a distant memory,” said Cause4’s founder and CEO Michelle Wright. “And the appeal of striving hard to benefit corporate goals, all focussed around making money, has lost its appeal for many of us.” Michelle started her own social enterprise in May 2009 and wouldn’t go back to the 9 to 5. “Entrepreneurs are the new rock stars. For many people the challenge and rewards of starting up and running a business provide independence and fulfilment that they just can’t get in their day job. You can set the agenda of what it’s important to achieve against your own values – gold dust.” 25% of Britons wish they could start their own business according to survey by Cause4
The survey revealed the following
- A quarter of UK adults wish they could start their own business in 2016
- Almost 1 in 10 of us do not feel inspired at work
- 1 in 10 of us wish we could start a business in 2016 but are too nervous to take the financial risk
- More women than men wish they could start their own business in 2016
- Almost 2 in 10 young adults aged 25-34 do not feel inspired at work
- Londoners are the adults most keen to start their own business in 2016
- Almost 1 in 10 adults in London and almost 1 in 10 Scottish adults are planning on starting their own business next year
The UK’s start-ups and small businesses can have a positive effect on the economy and the Government’s initiative, the Start Up Loans Company, has £310m available to help many aspiring entrepreneurs take the plunge.
“There is a risk when you start a business,” Michelle Wright continues, “and many of those who most want to try are fearful. But the permanent job doesn’t offer the security it used to either. Your new business could fail but that doesn’t mean that you couldn’t try a different enterprise and succeed. American entrepreneurs have a different view about failure to the Brits and a business person who’s tried a few iterations of a business before hitting on something that really flies is seen as a well-rounded entrepreneur rather than a flop.”
