Research sheds light on entrepreneurial ambitions of people living in the UK

According to a new study, more than half of people living in the UK have ambitions to one day become their own boss – while it is estimated that one in every ten Britons will be ‘an entrepreneur’ by the end of 2018.

The research, which was carried out by funding group Idinvest Partners, also shed light on the entrepreneurial ambitions of different age groups.

Their research found that more than three quarters (76 per cent) of 18-24 year-olds wish to start up their own business in a post-Brexit Britain, while 70 per cent of 25-34 year-olds are hoping to do the same.

Meanwhile, 66 per cent of 35-49 year-olds and 48 per cent of 50-64 year-olds added that they also wished to build and run their own business.

When asked about their motivations, 48 per cent of people cited financial success as the key reason they wanted to be their own boss, while 47 per cent said that freedom and independence was most important.

If you are a small business owner, or you are setting up a new firm and establishing yourself in the business world, it is crucial to make sure that you are supported by experts who understand today’s business environment and are experienced in helping people just like you to achieve specific entrepreneurial goals. It is equally important to seek out expert tax-planning assistance and advice.

Wilson Wright are here to help. We can assist you with all tax-related matters and ultimately help you to get ahead in the business world. Our team can advise you on managing your spending and day-to-day costs, and help you to implement tax-efficient business structures and find your feet on the path to success.

For more information about our services for small and start-up businesses, please contact us.                

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