Barclays tell how the UK is a hotbed of hidden talent for entrepreneurial ideas

People across the UK want to throw off the shackles and start putting money into their own pocket rather than their employers. According to Barclays research published today almost 40 per cent of people come up with ideas to start your own business, with holidays or major life events tending to spur people on.

However a whopping 73 per cent of people never turn their ideas into a business venture mainly due to lack of confidence plus the fear of losing the security of a regular income. In order to nurture the UK’s budding entrepreneurs, Barclays has joined forces with the National Federation of Enterprise Agencies to offer a programme of 500 brand new seminars across the UK. The ‘Let’s Talk Business Ideas’ and ‘Let’s Talk Starting in Business’ seminars are available free of charge.

John Davis, marketing director for local business at Barclays, comments: "What we may be seeing is a real cultural shift in the UK with more people looking for control over their own destiny and working their socks off for themselves rather than someone else, as opposed to striving for power and money by moving up the corporate ladder. It’s important that the UK’s future entrepreneurs have access to the right level of advice at the right time. Establishing a solid grounding is crucial to ensure their venture goes on to be successful."

Other highlights from the research:
- More than a quarter of budding entrepreneurs frequently think up ideas for a good business with 24 per cent being spurred on by a life event such as illness or children and 21 per cent when on holiday. - More than a third of them (37 per cent) stated they were fed up with working for the benefit of other people and 31 per cent wanted more control over the hours they work; 17 per cent wanted to escape the ‘rat race’ or downshift. A small percentage (3 per cent) stated they wanted to be famous.
- Lack of confidence (44 per cent) and worrying about finances (44 per cent) are the main reasons stopping people.
- The prime age for starting a business is between 35-44 which may indicate that experienced workers are increasingly choosing to abandon the rat race and commuting in favour of being their own boss.
The seminars run by experienced trainers will be packed full of useful hints and tips. ‘Let’s Talk Ideas’ a half day event, will look at how viable the idea is, what are the potential problems, potential rewards and then how to make it happen. Whereas the ‘Let’s Talk Starting in Business’ a full day event is for people who are about to set up and will be packed with information on how to write a good business plan, sourcing finance, managing cash flow, legal requirements, taxation and VAT and marketing.
The seminar is run in conjunction with the National Federation of Enterprise Agencies and in partnership with, the Association of Chartered Certified Accountants. People can find out more by visiting Barclays Small Business Banking or by contacting their local enterprise agency.

For further information:
Emma Austin, 0207 116 6145
Barclays Public Relations
0207 116 6145 / emma.austin@barclays.com