Wage earners reluctant to take the plunge

Giving up the security of a full-time job is the main barrier to people starting their own business, a survey has found

More people would quit their jobs and start their own business if only they could pluck up the courage, research has revealed.

In a survey of 900 people contemplating starting-up on their own, nearly half claimed the fear of giving up the security of a full-time job and regular income was the thing holding them back.

A quarter said the main barrier was their inability to come up with the right idea, but stepping out of the comfort zone far exceeding concerns such as raising finance or working long hours.

The results suggested that while there is a great deal of advice, information and support out there for people thinking of starting their own business, the confidence to actually take the plunge must come from within.

However, while the survey indicated there remains a reluctance to give up the security of a regular income, official government statistics suggest more people than ever are deciding that it’s a risk worth taking.

Angus MacLeod, founder of The Light Bulb Factor, that carried out the research, said: “The key findings are not really a surprise and it’s easy to relate to the way people feel about taking that leap of faith into the unknown.”

But he also added: “Recent research from the major high street banks showed that around 400,000 businesses are started every year, so there is certainly no holding back some people.”

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