By Daniel Hunter
International research into the aspirations of would be entrepreneurs has revealed that nearly 1 in 2 UK entrepreneurs feel they need to leave our shores to achieve success, saying that they are more likely to emigrate to achieve their ambitions than they were two years ago.
The research, conducted by Smaller Earth’s Your Big Year and Mazars, also found that for aspiring entrepreneurs around the world the USA remains the most attractive country in which to achieve their hopes, with 27% of people believing it would be the most likely to country to enable them to achieve their ambitions.
Britain’s entrepreneurs seem even more convinced that the American Dream is thriving, with 36% believing that Uncle Sam will help them on the road to success.
However, the research also produced some very positive findings for the UK:
· Despite Briton’s feeling the need to leave, the UK is viewed by international entrepreneurs as the second most popular country to emigrate to, to set up a business and achieve their ambitions with 11% choosing Britain as their country of choice.
· Despite 46% of aspiring entrepreneurs wanting to leave the UK, this figure compares favourably to neighbouring countries which are gripped by the Eurozone crisis. In Germany an incredible 78% of would be entrepreneurs said their country they would want to go abroad as the conditions in their home country are worse than they were two years ago, while 67% of French and Greek entrepreneurs also felt the need to go abroad.
The research findings are based on a survey conducted by Smaller Earth’s global entrepreneurial initiative Your Big Year and leading accountancy firm Mazars. The survey received just under 1600 respondents from all over the world who had previously registered themselves as aiming to improve their lives and their communities through business and entrepreneurialism. The UK generated 584 respondents.
The news that nearly 1 in 2 aspiring British entrepreneurs want to leave the UK comes in the wake of the recent budget which highlighted that unemployment is set to peak at 8.7%, and reports into last year’s riots which highlighted the lack of opportunities for the youth in Britain. Recognising the need to tackle the problem, the government has unveiled its Youth Enterprise Loan scheme.
“It’s incredibly important for aspiring entrepreneurs to be supported by their community and government," Chris Arnold, CEO of Smaller Earth stated.
"The brightest will always look to improve social conditions and infrastructure on a level that crosses borders, but to make a start somewhere else is very tough. It is debatable as to which country helps entrepreneurs best unleash their ideas and passion and it’s interesting that people still have a perception of the States being the best place to go. In the UK initiatives like the recently announced Youth Enterprise Loan are a big help and will hopefully encourage more people to set up on their own.”
Alistair Fraser, Partner at Mazars said the data shows the need to create the right environment in the UK to keep the next generation of entrepreneurs on British soil.
“The findings of this research highlight the need for encouragement and support for the next generation of wealth creators considering setting up a business in this country," he said.
"The fact that the UK is recognized as a great place to achieve your ambitions by almost everyone bar the British speaks volumes about the need to educate and create awareness about the opportunities that exist in this country. Entrepreneurialism is an extraordinarily positive energy in business and in society and we are determined to make it accessible and achievable for as many as possible.
"Through its support of organisations like Smaller Earth and a team that provides high levels of technical expertise and practical advice to small and growing businesses Mazars is helping to build the foundations for future growth.”