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One in five Brits say they want to start a business in 2021

One in five Brits say they want to start a business in 2021


Press the button: entrepreneurship remains high among Britons despite the pandemic

One in five UK adults say they want to start a business in 2021.

That figure rises to over one third (34 per cent) of 18 to 34-year-olds.

And one in 10 of those surveyed said they already were already actively planning for their start-up this year.

Even more excitingly, only 6 per cent said it was because they had become unemployed, rising to 8 per cent because of furlough. More than one third (37 per cent) said it was because they had always wanted to start a business.

>See also: Checklist for going self-employed – a Small Business guide

More than half of those expecting to start their new business sometime in 2021 say they see it as being as a side-hustle.

As for what kind of start-up people want to launch, health and wellbeing was the top category (11 per cent) followed by manufacturing (10 per cent), tech (10 per cent) and business services (10 per cent)

However, manufacturing was the overwhelming number one category in the industrial West Midlands, which was the area where people were most likely to go into business for themselves.

But 12 per cent of all those surveyed said they needed more information and support before going into business for themselves, and 8 per cent have put it off to when times are more certain.

Emma Jones, founder Enterprise Nation, said: “This research suggests that the start-up spirit in the UK is still going strong, but it also makes clear that there is an unmet need for providing early-stage support and education or signposting what’s already out there to people interested in starting a business.”

The report, conducted for small business support network Enterprise Nation and government-backed funding scheme Start Up Loans, surveyed 2,000 UK adults between December 16-18 2020.

Further reading

Free start-up checklist

 



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