Aspirational Brits are keen to start a business

Four in five Brits have thought about starting their own business, according to new research.

A survey of 2,000 UK adults, conducted by Ebuyer, has found that 80% of British people have aspirations to be entrepreneurs and run their own business. Londoners are the most entrepreneurial in the UK, with 84% of respondents thinking about starting up on their own, closely followed by residents of Glasgow (83%), Liverpool (82%) and Leeds (81%).

Sheffield residents were the least likely to start their own business (63%), followed by those in Newcastle and Cardiff (both 67%) and Southampton (69%).

However, the findings also show that there are some significant barriers that are stopping Brits from handing in their notice and following their start-up dreams. The poll found that lack of money is the biggest barrier (67%), followed by fear of failure (44%), lack of time (26%) and lack of resources or technology (18%).

The research also shows that millennials are most likely to think about taking the plunge. Nine in ten (90%) 25-34 year olds have thought about starting their own business, along with 85% of 18-24 year olds.

Amber Smith, Ebuyer sales director, said: "It comes as no real surprise that four in five adults want to start their own business - especially among young people, who have seen YouTube stars and internet entrepreneurs build a business from their bedroom.

"One in three residents claim lack of money is the biggest barrier to starting up your own business, but with the rise in rentable office space across the UK and the option to lease technology … the dream of becoming your own boss in 2018 might be closer than you think."

This week is Global Entrepreneurship Week, which offers hundreds of events and competitions in 160 countries, connecting nearly 10 million participants with potential collaborators, mentors and investors.

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