Are you juggling a job and setting up a business?

by imagerymajestic
by imagerymajestic

If that sounds like you, you’re not alone.  17.7 million of us want to start a business with over half starting up around their current occupation, according to  the poll to launch the Nectar Business Small Business Awards.

– There has been an 8% rise in the number of women with plans to start a business

– Following high street job losses, people are most driven to make their own money and be the boss

– Majority of would-be entrepreneurs plans to spend over eight hours a week starting up, while still in their current jobs

– People in the UK would most like to start jewellery and craft stores, restaurants or cafes – in 2009 online businesses and tea shops came in highest

Over two thirds (68%) of ‘5 to 9’ers aim to put in at least eight hours, one full working day, outside their working week, to get their business off the ground. The big reasons hard working Brits gave for wanting to run their own small businesses are; making their own money (47%), being their own boss (46%), taking on new challenges (26%) and creating a family business (18%).

The growing prominence of business women in the media, including star of BBC1’s The Apprentice and Nectar Business Small Business Awards judge Karren Brady, has seen an 8% rise in the number of women looking to become entrepreneurs, with 59% reporting entrepreneurial ambitions, compared to 51% five years ago.

The most likely ‘5 to 9’er is female, between 35-44 years old, from the South East or London, who works in education, retail, or healthcare and social work.

Celebrating the hard work of entrepreneurs, the poll of 2,900 UK adults revisits similar research from 2009. Today, jewellery and craft stores (7%) and restaurants and cafes (6%) are the businesses of choice, with 45% of people looking to be paid for their passions and make a living from a current hobby or interest. However, back in 2009 as the recession took hold, almost one in ten wanted to set up a tea shop (9%) or an online business (13%).

The popularity of the Great British Bake Off and the current series of Masterchef has surprisingly inspired 13% of bankers whose aim is to start baking businesses, while a traditional 10% of would be entrepreneurs are keen to open tea shop, restaurant or cafe.

The research also revealed:
Ø        Only 16% of would-be entrepreneurs want to set up a business within their current employment sector
Ø        13% of hoteliers aspire to become hairdressers and beauticians
Ø        11% of people in sales want to clean for a living
Ø        London and the South East have the biggest concentration of would-be entrepreneurs (30%)
Ø        28% of would-be entrepreneurs plan to spend over 20 hours a week on their small business during evenings and weekends

Nectar Business Small Business Awards Judge and leading UK businesswomen, Karren Brady comments: “This research is really encouraging and shows that Brits are more determined than ever to reach their business potential – even giving up their precious spare time to do so.

“The UK has grown some of the greatest entrepreneurs in the world; it really is the land of ingenuity and I’m proud to be able to celebrate this with the Nectar Business Small Business Awards.”

Nectar Marketing Director, James Frost adds: “Having held the Nectar Business Small Business Awards for four years, I can tell you that entrepreneurs are very driven and inspirational people. I’m not surprised to see that 45% of the next generation of small business owners are looking to devote their spare time to and use their hobbies and interests to turn passions into profit. It’s exactly this kind of investment of time and effort that we look to recognise through the awards.”

The Nectar Business Small Business Awards are open until 30th April 2013 and are free to enter at Winners will receive an invite to the Nectar Business Round Table with Karren Brady where they will be able to ask the Apprentice star for her business advice, £2,000 and 50,000 Nectar points.

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