Date published: 01.09.08 - not release date

Business Brains

More than 10 million UK citizens dream of leaving their job and starting their own business, according to new research.

Over a third (35 per cent) of workers have recently thought about setting up on their own, with one in five of those planning to make the leap into self employment in the next year.

The average worker even spends three days of each year day-dreaming about their future business from their desk.

But while 15 per cent dream of becoming their own boss because they aren’t happy in their current job, 37 per cent admits the main reason is simply to earn more money than they do at the moment.

More than 40 per cent are thinking of starting up their own business because they crave more freedom in the way they work and a quarter want to turn a hobby into a paying business.

Rosemary French, of Business Link, which carried out the poll, said: ‘’It’s encouraging to see how many people dream of setting up their own business to enjoy the flexibility and benefits of working for themselves.”

“The research also showed that nearly as many women as men are keen to become their own boss.”

But the poll of 2,000 UK citizens revealed that a third of people dreaming of setting up their own business might not get round to doing it because they are unsure how to go about it.

Money is another concern with 30 per cent of aspiring bosses saying they are worried about getting into debt or adding to existing money problems.

Almost half would worry about getting the money together to fund the business in the 1st place.

Surprisingly, 45 per cent of people said they would fund a new company with a bank loan, overdraft or even a credit card.

But 41 per cent of people admitted the current economic climate may make them less likely to start up their own business in the near future.

Rosemary French of Business Link said: “Many people who wish to start their own company can be put off due to fear of failure or uncertainty about how to start.”

“However there's a wealth of free information, advice and support available locally and online, to help budding entrepreneurs every step of the way.”

The poll also revealed that retail, art and culture and health are the most popular sectors UK citizens would consider entering when starting up a new business.


For further info and case studies please contact Anne Cantelo at PR4 (020 7637 1237) anne@pr4.com

Footnote:

1 calculated using the figure of 29 million UK workers (from the Office of National Statistics). 35% of workers who have recently thought about setting up on their own equates to 10 million people