More than 1.3 million Brits dream of turning their passions into professions

UK could see a surge in more cafes and craft shops in 2016-17

More than 1.3 million Brits dream of starting their own business in the next 12 months, according to new research by Direct Line for Business.
The study shows more people are choosing to follow their hearts and launch bakeries, cafés and craft shops.
When asked what type of business they would set up, 5% said they would set up a shop, with ambitions ranging from books and music to mobility scooters and Wiccan products.
The most popular choice was a café or tea room, selected by one in 20 respondents (6%), while arts and crafts – either from home or in a shop – were cited by 2% of Brits.
Restaurants, business consultancies and animal-related professions were all commonly cited, showing that there is no limit to the professional passions of the British public.
More broadly, the most popular start-up sector relates to food, with almost one in five of those wanting to start a business (18%) stating they would like to launch a cake shop or café.
This is followed by retail start-ups, with 16% citing businesses like craft shops as their ideal business venture.
Top five most desirable start-up sectors
Type of business
%
Food
18%
Retail
16%
Manufacturing
7%
Leisure
6%
technology
6%
Source: Analysis by Direct Line for Business
Lack of capital is cited as the biggest reason that people don’t want to start their own business (51%).
But funding is not the only barrier, with nearly a third admitting they wouldn’t know where to begin planning a new business. Lack of direction is more apparent amongst women with nearly double (43%) citing this as the main barrier compared to men (20%).
Primary reasons for not starting your own business
Primary reason for not starting a business
%
Lack of capital
51%
I don’t know where to start
32%
I don’t have the confidence
30%
I can’t afford to lose my salary
29%
Fear of losing job security
25%
Source: Analysis by Direct Line for Business
Nick Breton, head of Direct Line for Business, said: “Our research highlights the underlying desire amongst people to start up their own business ventures.
“It’s clear Brits are looking to turn their passions into professions, as cooking and crafting are deemed more popular than businesses that focus on technology for example.
“Funding is key to starting a business, but good advice and support is just as crucial to help new start-ups launch their business and build for the future.”
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