According to City AM more young UK adults are considering embarking on entrepreneurship. This is based on a report by financial services firm Block. It reveals that 67% of 18–34-year-olds interviewed are interested in starting a business. This appears to be contrary to many recent reports of a decline in business confidence and rising job losses among UK SMEs. According to the Block report one in ten young people plan to launch a venture within the next year. There is, however, the usual major obstacle. That is the difficulty of raising traditional finance that is hindering their ambitions. It is claimed that, with 50,000 small firms denied loans annually, this has resulted in a £4bn economic loss.
iBOSS Comment:
The ambition to start and grow businesses is there, but many entrepreneurs still find the financial system stacked against them. Unfortunately this is a well-known problem that has existed for many years in the UK, made worse by the increasing tendency of the Main Banks to withdraw from Funding the start-up market. If you are one of these people considering entrepreneurship but would appreciate some professional advice then look no further than the Team at iBOSS. Call Phil on 07876 503830 or e-mail him at Phil@theiboss.co.uk and request one of our free, no-strings consultations or look around our web site www.theiboss.co.uk .