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Research Reveals the Biggest Barriers for Aspiring Entrepreneurs

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With almost 20,000 Brits searching “how to start a business” each month, it’s clear we’re a nation full of budding entrepreneurs. But if so many are considering flying solo, what barriers are potentially stopping their excursion?

Online printing company, Solopress, have analysed the reasons currently stopping Brits from taking the leap into starting their dream business, as well as what would encourage people to start their entrepreneurial journey more and which industries are the most popular for aspiring business owners to enter.

Three-quarters of employed Brits dream of becoming self-employed

Imagining your dreams and living them are two very different prospects. For 74% of Brits who don’t already own a business, pursuing their dream of becoming an entrepreneur remains an ambition.

According to Solopress’s survey, starting their venture in the retail sector is the most appealing industry to enter for aspiring business owners, closely followed by health and wellness.

These are the five most popular industries for aspiring entrepreneurs to enter:

Top 5 sectors people would like to open a business in

Percentage of respondents that want to open a business in this sector (%)

Retail

6.4%

Health and wellness

5.8%

Food and beverages

5.0%

IT

4.6%

Pet care

4.5%

Cardiff has the largest population of aspiring entrepreneurs

They say you become who you surround yourself with. If you’re based in Cardiff, it would appear that your circle is filled with aspiring entrepreneurs.

A staggering 84% of all Cardiffians would like to open a business in the future. Unsurprisingly, they’re closely followed by Londoners where 82% of people also have ambitions of running their own business.

Interestingly, each of the top four cities full of aspiring entrepreneurs belongs to a different corner of Britain. In Cardiff, London, Glasgow and Belfast, it’s clear that Britain is full of ambitious potential entrepreneurs.

City

Would open a business (Net)

N/A – I would never open a business in any sector

Most popular sector (%)

Cardiff

83.6%

16.4%

Retail

10.5%

London

82.0%

18.0%

Health and wellness

6.7%

Belfast

80.0%

20.0%

Retail

10.9%

Glasgow

78.9%

21.2%

Health and wellness

9.6%

Leeds

77.2%

22.8%

Pet care

8.9%

Solopress’s Head of Marketing, Glen Eckett, said: “A larger budget can not only increase a new business owner’s options but also alleviate a proportion of the stress experienced when first entering the entrepreneurial world.”

People aged 35-44 are the most climate-conscious when it comes to setting up a business 

Living in a green world may be a dream for some but it’s an essential business target for others. With increasing pressure on existing companies to introduce and uphold green values, does this sway the approach of potential new business owners?

Overwhelmingly, the answer is yes. 81.3% of people believe it’s important to make sure their business is a green business.

Interestingly, people aged between 35 and 44 are the most likely to set up their businesses with the greatest emphasis on environmental sustainability.

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