Brought to you by
FreeAgent logo

Award-winning accounting software for small business owners and their accountants and bookkeepers.

Save content
Have you found this content useful? Use the button above to save it to your profile.

3.2 million Brits to start their own business in 2017

24th Jan 2017
Brought to you by
FreeAgent logo

Award-winning accounting software for small business owners and their accountants and bookkeepers.

Save content
Have you found this content useful? Use the button above to save it to your profile.

The small business sector could be set to grow even further in 2017, according to a recent survey commissioned by award-winning cloud accounting software provider FreeAgent. The research revealed that one in 10 working Brits intend to start their own business within the year. With 31.76 million people currently working in the UK, according to recent ONS statistics released in December, this means that 3.2 million more Brits are expected to become their own boss by 2018.

The survey, carried out by OnePoll and conducted with 1,000 working British people*, suggests that the UK is becoming a nation of entrepreneurs with the majority of respondents (54%) saying they wish to become their own boss at some point during their career.

A quarter of Brits (25%) aim to become self-employed within the next few years - with 10% saying they plan to do so in 2017 - and nearly a third (30%) say they want to start their own business at some point, but don’t have any concrete plans yet.

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

Notably, more women than men plan to set up their own business in 2017 (11% in comparison to 8% of men). And overall, 56% women dream of becoming their own boss in comparison to 52% of their male counterparts.

The results also highlighted the trend in ‘youngpreneurs’, with 67% of working 18-24 year olds saying they planned to become their own boss at some point - the largest percentage of the age ranges surveyed. By comparison, 66% of 25-34 year olds, 58% of 35-44 year olds, 44% of 45-54 year olds and 41% of over 55 year olds, said they wanted to start their own business.

To find out how FreeAgent can help you work with your small business clients, visit their website or call 0800 025 3900.

*The study was conducted by OnePoll between January 5th-10th 2017 and polled 1000 working Brits. Participants were recruited online and were paid to participate.

Tags: