Food is the most popular industry for start-up entrepreneurs

Food and drink would appear to be the hottest start-up sector in the UK right now with almost a fifth of budding entrepreneurs looking to launch a food-related start-up over the next 12 months, Direct Line for Business reported today.

Surveying 2,000 people in the days before and after the Brexit result (June 21 to June 24), Direct Line found that 2.25% of Britons surveyed want to start a business – a figure which equates to 1.3 million Brits when based on the entire UK population.

Of those respondents that said they wanted to start a business, 18% said it was their dream to launch a food venture such as a bakery, cake shop, sandwich shop or cafe, while 16% said they wanted to start a retail company, and 7% cited a manufacturing business as their start-up dream.

Despite the surge in business ambitions, the vast majority of those that wanted to start a business said concerns over finance was their main start-up barrier (51%), while 25% were concerned about the lack of job security that comes with becoming self-employed.

Nick Breton, head of Direct Line for Business, commented:

“It’s clear Brits are looking to turn their passions into professions, as cooking and crafting are deemed more popular than businesses that focus on technology for example. Funding is key to starting a business, but good advice and support is just as crucial to help new start-ups launch their business and build for the future.”