While holidays and life events give Britons countless ideas for starting their own business, the overwhelming majority never put those thoughts into action, research has shown.
According to a study by Barclays, nearly 40% of people come up with ideas for a business, yet a lack of confidence and the fear of losing the security of a regular income deters three-quarters from turning their ideas into a venture.
The survey revealed that a quarter of such ideas are spurred on by life events such as having children or an illness, while a fifth find theirs whilst on holiday.
Barclays found the prime age for starting a business to be between 35 and 44, which explains why over a third of respondents said they are driven to start up because they are tired of working for the benefit of other people.
Less than a third said they want more control over the hours they work.
“What we may be seeing is a real cultural shift in the UK with more people looking for control over their own destiny and working their socks off for themselves rather than someone else, as opposed to striving for power and money by moving up the corporate ladder,” said John Davis, marketing director for local business at Barclays.
