Half Britons would like to be their own boss

According to research released today by EO London, entrepreneurial spirit in Britain is stronger than ever with half (50%) of all adults in Britain having considered starting their own business.

The survey, commissioned by EO London and conducted by YouGov, also found that men (55%) are more likely to consider starting their own business, than women (44%). Further more, London was revealed to have the highest proportion of would-be entrepreneurs with 55% reporting that they had considered starting their own business. Least entrepreneurial were those in the North, where only 44% reported considering starting a business at some time.

One might think that with age comes the desire to be your own boss. Not so indicated the research with 60% of 25 to 34 year olds aspiring to lead, compared with 42% of 55+ year olds.

Digging deeper into Britain’s entrepreneurial desires, the survey asked ‘How likely do you think it is that you will start your own business in the future?’. Almost two fifths (39%) of UK adults reported some likelihood that they will start their own business in the future (16% ‘very likely’, 23% ‘somewhat likely’).

Regionally, the research revealed a positive picture for the Midlands and Wales, with 50% of residents expressing a likelihood that they would start their own business in the future. This compares with 46% of Londoners and 30% of those in North.

Acting on entrepreneurial impulse was also found to decline with age. Around half of 18 to 24 year olds (48%) and 25 to 34 year olds (50%) expressed some likelihood that they will start their own business in the future compared with just 37% of 45 to 54 year olds and 23% of 55 + year olds.

William Berry, Communications Chair for EO London, commented:

“These results are extremely encouraging, proving that there is a wealth of entrepreneurial drive in the UK, just waiting to be harnessed. The Entrepreneurs Organisation is all about helping and encouraging young entrepreneurs to succeed in their chosen field. With initiatives such as peer-to -peer learning, forums and networking events, we hope to reach a new generation of entrepreneurs and encourage a growth in new enterprise in Britain.”