Family (4)

Becoming a parent pushes some people to want to start their own business, according to the Start Up Loans Company.

A survey by the lender found that two-thirds of parents in the UK want to start their own business, but the reasons indicate that having children are a key reason in that desire.

The majority of those surveyed said increased flexibility was the main reason behind wanting to start up on their own, likely driven by having children to care for. The opportunity to be their own boss, potential earnings, pursuing a hobby, and sense of self-achievement all followed as primary reasons.

Interestingly, the survey uncovered that the number of children that UK adults have in their family varies their attitudes towards starting their own company. While parents with one child cited potential earnings as the most attractive part of starting a business, parents with two and three children placed the highest importance on flexibility. Parents with four children are attracted by the thought of being their own boss.

Tim Sawyer, CEO of Start Up Loans Company, said: "Our survey shows that there are many parents who are not giving up on their business dreams and are still considering establishing their own companies, mainly as this would give them more flexibility to look after their children.

“We’ve seen many parents coming to us with their business ideas and dreams, and turning them into a successful business. Some parents actually got their business ideas thanks to their children.“

You can find the full report here.