Entrepreneurial Britain: 1 in 4 keen to start a business
Entrepreneurialism is thriving in the UK, with 23% of those surveyed wanting to start a business, according to new research from business software and services provider Sage.
Small businesses are increasingly seen as playing a vital role in Britain’s financial recovery and, according to Sage’s Entrepreneurial Britain survey, this economic optimism seems to be filtering down to the streets.
Perhaps surprisingly, however, tomorrow’s business leaders are not based in traditionally prosperous areas such as London and the South-East: rather, it is cities such as Newcastle, Sunderland, Sheffield and Leeds are leading the way in entrepreneurial enthusiasm.
Of those who expressed a desire to start a business, 11% were from the North East – the highest percentage by region – with key motivations cited by respondents as the desire to do something they are passionate about (38%), to make more money (18%) and to have greater control over the working day (12%). Lack of job opportunities was cited by just 4% of those surveyed — less than half the national average (10%).
The majority of those surveyed planned to start their business in retail, with online boutiques, vintage clothing stores and cake decorating being popular choices. Women starting a retail outfit (21%) outnumbered men (12%) by almost two to one.
The Entrepreneurial Britain research was conducted by Sage as part of a wider initiative that looks to provide prospective and existing small business owners with guidance to help them to fulfil their potential.
“The UK business landscape is changing,” said Lee Perkins, Managing Director for Sage’s Small Business Division.
“Entrepreneurism … is moving North, and this will have a significant impact on regional economies. The rollout of technology infrastructure, such as superfast broadband, alongside access to guidance and advice will be instrumental to any region becoming a hub for start-ups and in order for entrepreneurs to fulfil their potential.
“But what is clear is that entrepreneurial Britain is thriving.”
Find out more about resources for small businesses at www.sage.co.uk