UK is a nation of hesitant entrepreneurs

The real reasons why we don't all chuck in our job

TODO alt text

The UK is a nation of hesitant entrepreneurs finds a new survey by web hosting business Fasthosts

Fasthosts 'Home Business Survey' finds that there may be thousands of entrepreneurs currently 'sitting on the fence' over whether to launch their own business.

The good news is that nearly three quarters (72 percent) of the British population would consider or have considered having their own business project. The bad news is we have a list of reasons for not joining that's as long as your arm, from potential money problems, through to worries about maintaining a good work-life balance.

Poor economic factors and fear of losing money remain the primary reasons for reluctance to start a new project. Top of the reasons for not starting were; the unattractive economic climate (36 percent), the fear of losing capital (35 percent), lack of funding (25 percent) and shortfalls in business knowledge (18 percent).

Unusually 14 percent of UK adults said they would consider the impact of technology such as smartphones, notepads and Internet applications, before concluding whether or not to launch a business.

In scoping a business idea, the most popular groups to consult for strategic advice are banks (35 percent), potential clients (31 percent), stock suppliers (27 percent) and then friends and family (25 percent).

Stephen Holford, Marketing Director, Fasthosts Internet Ltd, comments, "It is vital for anybody thinking of starting their own business to know what is technologically possible from the very start. Selling goods and even services online is often incorrectly regarded as beyond the reach of non-technical people. Family responsibilities and financial aspects are always pressures that need to be considered. However, the huge range of Internet-based tools available for mobile working means that work patterns can be far more flexible and mobile than ever before. It is vital that before deciding if a start-up project is achievable, one looks carefully at what technology is available to help".

Internet Psychologist Graham Jones believes that Internet-based tools can certainly help entrepreneurs to succeed. He comments, "Research over the past few years has shown that when people use the Internet as the focus of their business their productivity goes up. Indeed, Internet users are more productive than people who simply use computers in the office, with standard programs and in-house software. If only more people would tap into the online tools available, they too could run productive businesses which are using the extensive knowledge available online to give them a competitive edge".