One in ten Brits plan business start-up in 2017

A new survey has found that more than half of British workers would like to work for themselves one day - and one in ten are making plans to start a business this year.

Research conducted by OnePoll for FreeAgent, has found that 54% of people say they want to become their own boss at some point during their career; and 25% of those polled said they want to start a business within "the next few years".

As many as 10% say 2017 is the year they plan to start their own business. With 31.76 million people currently working in the UK, according to ONS statistics released in December, that means 3.2 million more Brits are could potentially become their own boss by 2018.

The most common reason for wanting to start a business is to have a better work/life balance, with 52% citing this as a factor. Other reasons include: wanting to choose what work they do (51%), earning more money (37%), following their passion (36%) and having a greater sense of achievement (35%).

More women than men plan to set up their own business in 2017 (11% of women compared to 8% of men). The motivations of men and women are different too. Work/life balance is more likely to be a key factor for women while increased earnings is more important to men.

Young people are especially keen to work for themselves in the future, according to the report - 67% of working 18-24 year olds say they plan to become their own boss at some point - the largest percentage of the age ranges surveyed.

Ed Molyneux, ceo and co-founder of FreeAgent, said: "Starting your own business can be an extremely rewarding, if daunting, move for people to make with their career - and it's clear from our research that a significant number of British workers are considering taking this leap into self-employment in 2017. However, while it's very pleasing to see so many would-be entrepreneurs thinking about going solo, it's important for any new business owner to make sure they are fully prepared before they start up."

Figures released by Companies House show that 2016 was record year for company formations with 657,790 new UK businesses created in the past year.

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