The UK is a 'nation of entrepreneurs', according to Groupon, with new figures showing that more than a third of people in the UK either own, or plan to launch, their own business.
Groupon's survey found that 37% want either own their own business or want to start their own. But it's the younger generation driving the trend. Nearly a quarter (23%) of 16-24 year olds said they would like to set up a business, but don’t have the resources available, more than any other age group and above the national average of 14%.
Over one in ten (11%) of 16-24 year olds said that their ultimate goal is to set up their own business, compared to the national average of 5%.
University 'not worth it'
With a business career in sight, one in five (21%) of 16-24 year olds agreed that further education was not worth the financial investment, with 12% saying setting up a business is a good alternative to further education.
And 16% stating they’d rather just get earning as university is "too expensive". Nearly half (49%) of UK adults in the process of setting up their own business agreed that higher education was not worth the investment.
Be your own boss
Of those who have started or plan to start their own business, the main reason was the desire to be your own boss (53%), with three fifths (60%) stating they don’t like working for other people.
Other reasons for those who have gone it alone or plan to include a greater flexibility around the hours worked (40%), wanting to control how a business is run (26%) and being inspired by friends and family who set up their own business (11%).
It seems we are also a nation of business day dreamers as a quarter (25%) of UK adults agreed that they are always trying to think up a business idea in order to make money, with this increasing to a third (34%) amongst 16-24 year olds.
Elyas Chowdhury, managing director at Groupon UK, said: “It’s so encouraging to see signs that we’re becoming a nation of aspiring business owners. Our goal is to turn people’s business aspirations into reality by providing them with the best possible tools to attract, retain and engage with customers.”
