NEW STUDY: 85% of UK Workers Want to Start their Own Business
LONDON, July 7, 2022 /PRNewswire/ -- UK workers want to start their own business, become their own boss, and believe a 'side hustle' is the first step, according to a new study by Oracle NetSuite and The Founding Network, a global community of the most innovative, high-growth SME leaders. The study of more than 2,000 UK workers and business founders revealed that UK workers are ready to go out on their own, while UK business founders are shifting priorities and learning new skills. Crucially, both current and future founders recognise the critical role technology will play in their success.
UK workers want to be their own boss
UK business founders are shifting priorities and learning new skills
Cloud technology is helping founders navigate a changing economic environment and grow their businesses.
"It's inspiring that the culture of entrepreneurism that the UK is famed for is alive and well. Many workers are taking definitive steps towards starting a new venture, but as current business founders report, the economic climate at the moment is challenging," said Nicky Tozer, EMEA Senior Vice President at Oracle NetSuite. "The results of our study clearly show that most UK business leaders using cloud technology said they are better placed to adapt, be more productive and efficient, and carve out new opportunities. We also found that the next generation of UK business founders understands the critical role technology will play in their success."
"With so many people making the transition from corporate roles to life as an entrepreneur, all 'workers' could be viewed as potential founders," said James Sutcliffe, Founder, The Founding Network. "This is more evident than ever before, with the rise of side hustles – a clear sign of both entrepreneurial spirit and growing confidence amongst the younger generations. However, despite the optimism, many founders find that starting a business is more challenging than they expect. A key issue the founders in our community face is gaining visibility over their entire business operations to deliver on their vision and goals. Those who master this are the ones who will go on to have the greatest success."
Learn more about the new research findings – State of Entrepreneurship Report: How Founders Are Adapting and Succeeding.
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