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Starting up your own business can be a daunting prospect, yet a very rewarding one if done in the right way. Many people have the desire to start their own company but often dismiss the idea as a daydream. This doesn’t have to be the case though, as lots of people make a go of their new business start up, and are reaping the rewards. According to a variety of recent surveys, one in ten people who were asked in 2017 intended to start their own business within a year, that’s around 3.2 million who aimed to be their own boss. That’s a huge percentage of aspiring entrepreneurs throughout the UK.
The freedom to work for oneself, and have the power to make your own decisions is very tempting, as employees sometimes feel that they have no control over their work life. According to statistics, some of the main reasons for wanting to start a business include:-
- 52% said they wanted an improved work-life balance
- 51% sought to change their type of work
- 37% said they want to earn more
- 36% want to follow their passion
- 35% desire a greater sense of achievement
There were more women than men who wanted to work for themselves too [11% as opposed to 8%], and women were more likely to want to do this in order to fulfil family commitments. A higher rate of men sight increased earnings as a motivating factor. There is also a trend for younger working people to want to be their own boss, in fact 67% of 18 – 24 year olds.
It isn’t something that should be rushed into though, as careful planning and persistence are keys to success here. Maintaining a healthy cash flow can be tricky and it’s a good idea to get professional advice, from specialists like John S Culwick. He is highly experienced in assisting those wishing to embark on being a business owner, call him on 01268 680702.