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Three quarters of British workers dream of running their own business

75% of Brits dream of starting their own business

75% of British workers would like the freedom to run their own business one day, according to new research from St Jamesโ€™s Place Academy, the training and development arm of the FTSE100 financial services company. 78% of men and 73% of women aged 25-55 surveyed said they had dreams of becoming an entrepreneur.

In terms of the most attractive things about running a business, 51% of respondents thought that having more control/setting their own hours would be the best thing. A further 21% thought that better job satisfaction would result, 15% believe they could increase their earnings and 11% like the idea of working from wherever they like.

Adrian Batchelor, Academy Director at St Jamesโ€™s Place Academy said: โ€œItโ€™s also great news to see women and men equally enthusiastic about the prospect of running their own businesses โ€“ indeed, the entrepreneurial vision seems to be something that unites the sexes rather than dividing them.โ€

Other significant findings of the research include:

  • Younger workers (those aged between 18-35) are more predisposed to the entrepreneurial dream (82%) than older people in employment (compared to the 58% of those aged 55+ who expressed a desire to run their own business)
  • Londoners are the most entrepreneurially minded (81% want to run their own business), while the Scottish are the least (69%)
  • Employees working in advertising/marketing are the most entrepreneurially minded (89%) while those in the public sector are the least (68%)
  • 85% of higher earners (those on ยฃ70k+) want to set up their own business vs 71% of those earning less than ยฃ20k.

When it comes to perceptions of what might be the hardest thing about running a business, men and women slightly differed. A significant minority of women think that managing the finances would be the hardest thing (30%) compared to the 38% of men who think attracting customers would be the toughest challenge. Roughly equal numbers of men and women thought that long hours (19%) and stress (16.5%) would be the hardest thing to deal with.

St Jamesโ€™s Place Academy is hosting an event โ€“ Inspiring Women โ€“ on 23 November in London.ย  The event is designed to motivate, inspire, connect and celebrate women in business. Read more about the event here.