November 13 ,2017 | by Erin O’Neill

Londoners most likely to start their own business

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Research from Ebuyer has found that 80 per cent of Britons aspire or have aspired to set up their own business, with Londoners being the most entrepreneurial.

The research surveyed 2,000 UK adults and found that 84 per cent of residents in London have thought about starting their own business.

Barriers

Glasgow came second for its number of inhabitants that want to set up a business, with 83 per cent saying that they have thought about doing so. This was followed by Liverpool (82 per cent) and Leeds (81 per cent).

Sheffield was found to be the city where people are the least entrepreneurial, with 63 per cent thinking about starting up their own business. This was followed by both Newcastle and Cardiff at 67 per cent and Southampton at 69 per cent.

The main barriers to starting up a business were revealed in the research, with 67 per cent citing a lack of money as the main reason for being unable to do so. This was followed by a fear of failure (44 per cent), not having enough time (26 per cent) and a lack of resources or technology (18 per cent).

Closer

Commenting on the research, Ebuyer.com Sales Director Amber Smith said: “One in three residents claim lack of money is the biggest barrier to starting up your own business, but with the rise in rentable office space across the UK and the option to lease technology so businesses can afford the equipment they need to kickstart their career, the dream of becoming your own boss in 2018 might be closer than you think.”

Erin O’Neill

Erin O’Neill is an LSBF News Writer who reports on small business, careers, technology and education news.

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