A third of the British public find entrepreneurship appealing

16/11/2009

One out of every three people in the UK has either started a business or would like to become an entrepreneur, it has been claimed.

However, according to a new report, which has been released to coincide with Global Entrepreneurship Week which starts today, 46% of those with dreams of starting a business are waiting until 2010.

The recession is the main barrier to starting up this year according to the report. Some 40% said they were waiting until the recovery kicks in before they start working on their ventures. Only 14% of people believe now is a better time to set up than a year ago.

“It’s completely understandable that British people are taking a more cautious approach,” said Catherine Harrell, small business specialist at Intuit UK, which commissioned the research.

“As small businesses contribute more than 50.1% of the UK turnover and employ almost half the working population, it is clear that more must be done to restore confidence and encourage entrepreneurship in the UK.”

Harrell said initiatives like Global Entrepreneurship Week were a great opportunity to highlight British small business success stories and ensure support is given to future entrepreneurs.

Global Entrepreneurship Week is a worldwide initiative which celebrates and promotes enterprise. The week has been running since 2004, and last year’s effort saw 24,966 events and activities run in 77 countries. More than three million people took part with 644,000 in the UK alone.