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Brits becoming more entrepreneurial, new research finds

09/10/2018 News Team

Over a third (36 percent) of Britons, which equates to 19 million people, believe that they will be richer than their parents and grandparents. However, the same percentage said the opposite, according to research conducted by the Enterprise Investment Scheme Association (EISA). 

The research surveyed 2,007 respondents from across the UK, as to how they perceive their wealth and career opportunities post Brexit.

An estimated 15.3 million feel the government is more supportive than ever before to start and drive your own business forward and a third believe that there are now more opportunities to be a business leader.

This sentiment is greatest in London, with 48 percent saying they have more opportunities to become business leaders than their parents and grandparents, compared with an average of 25 percent in the North.

The research also found that 31 percent consider an entrepreneurial route more attractive than working for someone else, with 37 percent saying that they are more disillusioned with the corporate ladder than their parents and grandparents.

However, despite having an increased desire, only 29 percent believe they have more capital than their parents to start their own business.

Mark Brownridge, director general of EISA, commented: “A decade ago, workers would have witnessed the global financial crash, and since then, they have realised that a traditional career path may not necessarily be the route that they would like to take.

“Therefore, working for themselves, becoming an entrepreneur, and having a more flexible working structure is a popular alternative to corporate career pathways.

“As a society, we need to recognise this shift and ensure that we stimulate it. Investment schemes into SMEs that supports entrepreneurs, such as the SEIS and EIS, should be encouraged to support our future business leaders across the country.”

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