Starting your own business is daunting but ultimately extremely rewarding according to a new survey.
The research carried out by the British Franchise Association (BFA) revealed that self-employed people are nearly twice as happy as those employed.
Of those surveyed, some 46% of people who run their own business are very happy at work compared with only 26%of employees.
Despite this statistic, more than three quarters of those asked had rarely or never considered starting up their own business project.
“There are a number of barriers to self-employment which could have very worrying implications for the (small business) sector,” said Dan Archer, head of marketing at the BFA.
The primary concerns for starting a business are financial investment and the risk of failure, according to Archer.
Not having enough money was the main obstacle, with 52% of those surveyed saying it was a barrier to setting up their own business.
The results also demonstrated a regional difference in the concerns of prospective entrepreneurs.
While Londoners are preoccupied with investment, people in the midlands cited a lack of confidence as the main hurdle to overcome when starting up on their own.
© Crimson Business Ltd. 2006
