The looming Summer period may see the country’s entrepreneurs come up with their best ideas yet, according to a survey carried out by Sandler Training.
Of the 1,000 small businesses surveyed, all of whom have been successful for over 5 years, nearly 20% said that the idea for their company had come to them while off on holiday.
The survey itself also looked into the reasons why people end up becoming entrepreneurs and starting up their own companies, while also investigating what kinds of problems and issues held them back.
One of the biggest obstacles was, unsurprisingly, money. 34 per cent of respondents said that the need to take a salary gave them pause for thought. Following that, 25% were worried about their job security, 21% thought they didn’t have the skills or knowledge to be successful, while 19% were concerned about competing with other businesses.
In terms of making their first steps into the world of business, 49% said it was because of apparent interest from potential customers, while 31% said it was because of funding.
In terms of motivation, it was found that friends were the most likely to push people to go it alone. A third said their main support came from friends, while 22% said it came from colleagues or partners.
Shaun Thomson, Sandler Training’s CEO, said: “Having a rare moment to unwind can actually be the perfect time to think up a winning concept for a business idea. Although it may be hard to imagine whilst you are packing your suitcase, you could be running your own business by Christmas.”
Image by Laszlo IlyYes