New research released today has pinpointed the changing face of work in the UK. Currently there are three million businesses, or 12%* of the UK population, that have set up their own businesses and this number is set to increase to 10 million in the next five years according to the new research released by Vodafone UK**.
The research reveals that 6% of UK adults (aged 16+ years) are in the process of setting up their own start-up, with 12% of population already set up on their own and just under a third of all people are seriously considering it. This equates to a staggering 33%* (10 million) of the UK population who could be leaving the traditional nine-five behind and joining the ranks of the Small Business Community.
Eureka Moments
The findings further identified the key social, economic and cultural catalysts that can be the trigger for success in business. It shows that a person is more likely to become a success if they are
- starting a family or going through a divorce
- getting married or hitting a landmark age
- the youngest child or are a Virgo
- or importantly if they have a ‘good idea’ above everything else
The study also revealed that the business landscape is changing: the over 50s and men are currently the most likely to be running their own business. But maybe not for long. Almost half of all twenty-something's are either planning or would like to run their own organisation and more women than men are plotting their solo careers according to the research.
The research, commissioned by Vodafone as part of its Working Nation Series studies, looks deeper into the changing face of the UK’s work environment in the run up to the first transmission of the Sky One TV show, The Big Idea (initial concept devised by Vodafone) starts on Sunday 15th October at 9pm.
Nick Read, CEO of Vodafone added: 'As the number of small businesses increase, so does the nature and variety of support they need. With no two businesses the same, we aim, with insight like this, to continue tailoring our approach so that we can invest in serving their needs. At the heart of Vodafone’s heritage lies a passion for the small business sector; Vodafone in fact grew from just five people working behind a small curry shop in Newbury, Berkshire over 21 years ago.'
Entrepreneurial Deserts
The study has identified Brighton, Belfast, Bristol, Southampton, Plymouth and London as the six hotspot cities of entrepreneurial activity where the highest number of people running their own business live. On the flipside Newcastle, Scotland and Liverpool are the entrepreneurial deserts of the UK.
But what makes someone wake up one day and decide to go it alone? It tends to be a significant moment in life that acts as the trigger.
Over one in four start-ups are sparked by redundancy but the biggest social catalyst is starting a family as people look for more flexible working hours and a business that they can hand down to their children.
Divorce and reaching a landmark birthday are other key factors as people readdress their lives and figure out what they really want.
The Big Idea involves the UK's largest-ever search to discover the next great British invention or business idea. It was co-created and funded by Vodafone to support the company’s commitment to enterprise and inspiring small business success. Produced by Ricochet Productions in association with Vodafone The Big Idea will be broadcast on Sky One.
For more information about The Big Idea, log on to www.thebigidea.tv The Big Idea is the first advertiser funded*** prime-time TV property to be created for a mainstream audience with content designed to appeal to the diverse needs of smaller businesses and aspiring business people. The Big Idea involves the UK's largest-ever search to discover the next great British invention or business idea.
The Big Idea in association with Vodafone starts on Sky One on Sunday 15th October at 9pm
Ends
For further information please contact:
Vodafone - Natasha Gould:
Natasha@borkowski.co.uk
Direct Line: 0207 492 0623
Mobile: 07920 092018
* There are currently 26 million Britons at work according to the Office of National Statistics. According to ONS and the Tickbox research, 12% (3.12 million) have set up/run their own business. From the nationally representative Tickbox research we also found that 6% are currently in the planning process to set up their own business, which combined with a further 27% who would like to run their own business, equates to 33% (or c10million) of the entire current workforce who could be moving from the workforce into self-employment in the next five years. Office of National Statistics Demographic Data (Adult Working Population)
** Research undertaken by Tickbox throughout September 2006. Survey sample: 1933 adults aged 16+ years were interviewed. Tickbox.net is a full member of the British Market Research Association. This and other small business research will be published as part of Vodafone’s second Working Nation series.
*** Advertiser funded programming (AFP) deals are different from standard TV sponsorship arrangements. With a sponsorship, the brand-owner simply pays the broadcaster for an association with an existing programme (eg Cadbury's and Coronation Street). With an AFP deal, the brand-owner funds the production of a new programme. This enables the brand-owner to commission a programme or series that may suit its sponsorship requirements better than existing programmes. It also provides a much-needed additional source of funding for broadcasters and production companies.
About Vodafone UK
Vodafone UK has 16.2 million customers and offers a wide range of voice and data communications. The company is committed to providing mobile solutions that allow both consumer and business customers to make the most of now. In addition, Vodafone connects customers across the globe with roaming agreements worldwide. It provides 3G roaming in 18 countries and offers great roaming value with Vodafone Passport. In June 2006 Vodafone UK was the first UK mobile network to launch a 3G broadband (HSDPA) service, available in London, Greater Manchester, Sheffield, Glasgow, Tyneside, the West Midlands, Bristol and Liverpool. For more information, please visit www.vodafone.co.uk.