8 stats that prove just how entrepreneurial Londoners really are

(It’s not what you’d expect)

Thought access to finance was the biggest problem facing most businesses? Or business rates? According to a new report on entrepreneurialism in Britain, they don’t even make the top three.

In fact, nearly half of entrepreneurs surveyed said finding customers was the biggest issue.

Yesterday we interviewed Mark Wright, last year’s winner of The Apprentice and founder of online marketing business Climb Online, which carried out the research in conjunction with Groupon.

“I’ve been quite lucky as I was thrust into an amazing opportunity, but the fact is, nearly half of adults in London either own or plan to own a business - and there’s not much support for those people,” Wright told us.

“We need to start creating an environment where we either support them or there’s going to be a statistic showing only 2% of people want to start a business in the future.”

Here are eight things we learned about entrepreneurs in London and Britain as a whole:

  1. Nearly half of Londoners currently own or plan to own their own business, compared to 37% nationally
  2. One in 10 Londoners say their ultimate business goal is to set up their own business, compared to 5% nationally
  3. Almost one in four Londoners say they are always trying to think up new ideas to make money
  4. Almost a third of Londoners say they are regular risk takers, compared to 23% nationally
  5. A quarter of Londoners say it’s easier than ever to set up a business, compared to 16% nationally
  6. Of those who have started or plan to start their own business, more than half said the main driver was being their own boss
  7. More than a fifth of adults in London currently have a hobby or skill that makes them money
  8. The biggest business challenges are finding customers  (48%), staying competitive (36%) and managing finances (34%)

 

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