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40% Brits plan own business start-up

One in three Brits motivated by the necessity of a secondary income.

By CBR Staff Writer

About 40% of adults in the UK consider launching their own business start-ups which they think would boost their household income, a new study finds.

According to the latest 1&1 internet research, about one in three Brits are motivated by the necessity of a secondary income in recent times, suggesting a strong entrepreneurial spirit.

The surveyed Britons expected a minimum income of £25,000 per annum from efforts to set off a sideline business, which is much less compared to Germany (£44,105), followed by the US (£33,446), and then Spain (£28,783).

However, French and Polish citizens would be pleased with far below additional income, at £21,808, and only £10,591 respectively.

Several of the survey respondents had both aspiration and confidence towards starting a new business, with 43% of men versus 38% of women planning to have their own enterprise.

Regionally, 49% people residing in the east of England considered having their own business, followed by London and Wales with 46% and 44% respectively, while people of the north west were reluctant, with only 33% of them interested in doing so.

About 33% of the surveyed sided with starting a side project together with their existing job, while 17% of them considered being their own boss, 12% mulling over a better work/life balance or family life, followed by 12% with a passion for a hobby.

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However, the research noted that the desire to start an enterprise decreased with age, with 25-34 years mostly considering launching their own business.

1&1 Internet Hosting CEO Robert Hoffmann said that the internet makes it much easier today to start a business.

"A powerful website and the right tools to attract customers can often be the key needed to transform a business dream into a real life success," Hoffmann said.

"Modern website packages deliver the necessary eBusiness elements for attracting, interacting and transacting with online consumers – ready to place your website on top of Search Engines and connect you with Internet communities like Facebook, Twitter and eBay.

"Since you can use these powerful tools over the Web with no software or programming skills needed, starting a website is easier than many realise – the result being that a sideline or hobby business can become economically feasible and conducive to work/life balance".

Further, people planning to launch a new business are advised to consider the available online tools, which would boost chances of business success, while enhancing working flexibility.

Internet Psychologist Graham Jones said that internet-based tools can certainly help entrepreneurs to succeed.

"Research over the past few years has shown that when people use the internet as the focus of their business their productivity goes up," Jones said.

"If only more people would tap into the online tools available, they too could run productive businesses which are using the extensive knowledge available online to give them a competitive edge".

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