Brits turning to entrepreneurship to escape bad working past
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Becoming your own boss is everyone’s dream. Why would you want to work for a company that doesn’t understand your potential or hard work?
Unprofessional behaviour and arrogance from a previous boss are some reasons why people become reluctant to work under someone. In the UK, self-employment has steeply risen over the years and people are trying their hand at running their own business rather than working for someone else. In 2015, more than 4.6 million people decided to become their own boss.
A recent survey of more than 100 people by OnePoll for Reed Commercial revealed that 70% of Brits are turning themselves into entrepreneurs. The main reason behind this decision is a dislike towards their previous boss. The survey also revealed that the decision to become their own boss was due to their worst previous bosses. The results showed that 72% of males and 71% of females were affected by their previous workplace.
Moreover, 25% of respondents were daunted by funding, in spite of government schemes.
A promising future for starting a business
The study also revealed that 100% of 18-24 year olds admitted poor treatment from their previous boss encouraged them to start their own business. The encouragement also came from the strong current start-up environment and investments taking place. People love sharing new ideas and start their own business to gain success.
Strong entrepreneurial skills
Brits under 35 years old think their generation's entrepreneurial skill is higher than previous ones. With new ideas and skills, women under 35 years are also becoming passionate about the self-employment prospect. This skill also has helped young Brits jump onto the bandwagon.
Inflexible working hours
Half of the women respondents between 18 and 35 also cited that lack of stable income also led to entrepreneurship. Unsocial working hours have led many women to switch off from the daily jobs. Paul Gough, managing director at Intouch Accounting, said: “I think the survey results prove the UK flexible workforce is here to stay. Forty per cent of the population surveyed and more than half of Generation Y is entrepreneurial – that’s great news!
Disrespectful and a disorganised workplace has given likeminded individuals courage to start their own business.
The future of British entrepreneurs
Looking at the current scenario of young entrepreneurs in Britain and survey result by Reed Commercial, the future really holds bright for them. Suzanne Bond, chief executive of Cornwall Development Company, said: “It is interesting to see that so many people are planning on reinvigorating their careers by changing paths over the next five years and, in particular, that large numbers are willing to take the positive and bold step to start their own business and become their own boss.”
There is no doubt that over the next five years more than 1.8 million British youngsters will be turning into entrepreneurs.