Right now, most may be thinking money is what motivates people to create startups.
While money does come almost top, the foremost reason, according to a third of people who have started a business in the UK, is the desire to be their own boss.
This compares with the US, where 75% do it to be their own boss and Canada, where 43% want to be their own boss.
The following infographic from Smarta, a company which advises startups, shows more than half a million new businesses were created in the UK in 2013 with 50% saying they work full time on the new business, 26% keeping a full-time job and 24% working part-time.
Further findings reveal lack of funding is the biggest barrier for startups according to 50%, followed by:
- 18% say lack of confidence.
- 17% say lack of support.
- 15% advised against it.
Do you agree?