Entrepreneurship a more ‘viable career choice’ say UK business builders

Research launched to coincide with the start of Global Entrepreneurship Week shows that almost half of UK entrepreneurs are optimistic about the business environment.

While entrepreneurs in the UK believe that the situation has worsened over the past two years, 48 per cent predict that it will improve over the coming two years and many view it as the more viable career move.

Findings from Youth Business International as part of Global Entrepreneurship Week (running from 12 to 18 November) reveals that, of the 100 UK entrepreneurs questioned, some 35 per cent rate the current operating environment for their particular businesses as good or very good.

Quizzed on prospects for the next five years, 74 per cent expect to see the number of business being set up increase.

Only 9 per cent forecast a decline in the number of start-ups getting off the ground.

Youth Business International chief executive Andrew Davenport says that two in five entrepreneurs identify global opportunities as being of importance, which reflects the organisation’s experience of helping entrepreneurs set up in over 30 countries.

‘There is so much potential for growth when start-ups make global connections,’ he adds.

‘During Global Entrepreneurship Week and in the coming months new and exciting businesses will emerge across the globe and we can all help them by passing on our knowledge and expertise.’

Further findings from the research report shows that entrepreneurs predict that the main developments that will allow them to grow their businesses over the next five years will be an increased ability to access funding from ‘multiple sources’ or collaboratively.

Half of the survey’s respondents view starting a business as a more viable career choice for young people than entering the traditional job market. This figure climbs to 70 per cent when moved on five years.

IT and telecoms, named by 56 per cent of respondents, was predicted as the biggest growth sector for those wanting to start up a business over the next five years, followed by social enterprise (54 per cent), creative industries (51 per cent) and the green economy (51 per cent).

All start-ups surveyed as part of the report were two or more years old and employ five or more people.

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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