A recent survey by the Business is GREAT campaign has discovered that over half of aspiring business owners under the age of 24 think about starting their own business on a daily basis.
The survey, which interviewed 1000 people of all ages with an interest in starting their own business discovered that amongst younger people especially there is still a desire to take control of their own future despite the economic pressures and burdens associated with it. 52% of those in the 18-24 age group thought about starting their own business on most days, whilst a staggering 41 per cent stating that it would be a greater achievement than raising a family – which just goes to show how times have drastically changed in the UK.
Surviving the Pressures of Your Own Business
In the end, once you make the decision to set up your own business you have to be prepared for all outcomes and put in the right foundations for your own specific situation. The survey also asked about what obstacles people saw as being in their way to owning a successful business, with predictable answers.
Large numbers of respondents saw a fear of failure or the lack of a mentor as a major stumbling block to success. While there were also many who had concerns about physical premises for their business, financing and the time pressures associated with someone who is balancing a full time job with a desire to start a new business of their own.
Government support can be vital to fledging companies and the Business Secretary Vince Cable recently had this to say about the UK and its continuing business spirit:
“The UK is Europe’s leading entrepreneurial nation and the government is backing small firms as part of our industrial strategy to create long term jobs and grow the economy.
“Large companies also have a vital role to play in offering support and sharing their expertise with smaller companies wanting to grow.”
Seek Guidance and Support from Fellow Entrepreneurs
We understand the pressures of starting your own business here at Keepoint. Each journey is different of course, but every single company has had rough times and good along the way and by talking with other company owners and sharing life experiences in a relaxed environment can help put your mind at ease, focus your attention to the important parts of your business and also show you that your hard work can and will pay off if you stick to your guns.