13th February 2008
Gloomy forecast puts off start-ups
Entrepreneurs in England are less likely to start up their own businesses in the near future because of the economic outlook, according to recent research.
Forty-one per cent of 2,000 people who took part in an online poll across England blamed the current economic climate for their reticence to launch business ventures.
Meanwhile, 35% of workers have recently thought about setting up on their own, with one in five of those planning to make the leap into self employment in the next year.
"It's hardly surprising that some people are put off by the uncertain economic climate," said Rosemary French of Business Link, the government-funded business advice service which carried out the survey.
"I think it encouraging that 60% of people are not affected by it."
"Many people who wish to start their own company can be put off due to fear of failure or uncertainty about how to start," she continued. "However there is a wealth of free information, advice and support available locally and online, to help budding entrepreneurs along the way."
Money is another concern with 30% of aspiring bosses saying that they are worried about getting into debt or adding to existing money problems. Almost half would worry about getting the money together to fund the business in the first place.
Surprisingly, 45% of people said they would fund a new company with a bank loan, overdraft or a credit card.
Forty-one per cent of 2,000 people who took part in an online poll across England blamed the current economic climate for their reticence to launch business ventures.
Meanwhile, 35% of workers have recently thought about setting up on their own, with one in five of those planning to make the leap into self employment in the next year.
"It's hardly surprising that some people are put off by the uncertain economic climate," said Rosemary French of Business Link, the government-funded business advice service which carried out the survey.
"I think it encouraging that 60% of people are not affected by it."
"Many people who wish to start their own company can be put off due to fear of failure or uncertainty about how to start," she continued. "However there is a wealth of free information, advice and support available locally and online, to help budding entrepreneurs along the way."
Money is another concern with 30% of aspiring bosses saying that they are worried about getting into debt or adding to existing money problems. Almost half would worry about getting the money together to fund the business in the first place.
Surprisingly, 45% of people said they would fund a new company with a bank loan, overdraft or a credit card.
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