Survey: 57% of Brits want to start their own business

Wednesday 29 November 2017

A new survey by Huawei has found that 57 per cent of Britons want to start their own business, but barriers to doing so include access to the right technology (74 per cent), confidence (36 per cent) and cash flow (75 per cent).

The study took an in-depth look into the UK’s aspirations and found that, while half said they had failed to make their dreams come true, a further 85 per cent say they “have yet” to fulfil their long-term ambitions.

A total of 67 per cent of those who took part in the survey said they are not living up to their full potential, with a lack of money the biggest obstacle, while 25 per cent reported that family commitments prevented them from doing what they dreamed of. Lack of motivation was also a common reason that respondents had not yet fulfilled their ambitions.

However, 77 per cent reported that they are planning to pursue their dreams in the next 12 months.

According to the survey, 15 per cent of Brits claim they hate their job, with a further 24 per cent dreaming of owning their own coffee shop or deli. Meanwhile, 45 per cent said they would quit their job tomorrow if they were financially secure enough, but 34 per cent said they had tried to set up their dream business only for it to go horribly wrong - perhaps down to a lack of guidance.

The survey has been released in conjunction with Huawei’s ‘I Am What I Do’ campaign, which features tech-driven entrepreneurs showcasing how artificial intelligence can enhance people’s lives.

In the study, Huawei examines which areas of the UK are the most ambitious, with Exeter coming out on top, at 60 per cent. Leeds, Cardiff, Birmingham and Bristol made up the rest of the top five.

Psychologist and life coach Corinne Sweet told smallbusiness.co.uk: “In an increasingly fast-moving, 24/7 world, people need to have access to the right tools to be able to realise their visions, cope with the pace of modern life and achieve their goals.

“Technology can be a huge aid as we want to be able to operate on the move, across borders and clearly, with each other. It’s time for Britons to use technology to empower them psychologically, to help turn their dreams into reality and to create financial and social success.”


By Victoria McDonnell

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