According to participants in the recent IONOS SE study “British Dreams and Wishes: A Business Survey”, starting a business would make them happier. When asked about their jobs, 59.3% of the participants stated that they believe they’d be happier running their own business than being employed.

The study included 506 participants between the ages of 20 to 50 years old. There were 293 female participants and 253 males. The study took place in summer 2021. The focus of the study is on self-employment and starting a business. You can expect to find answers in the following categories:

• The occupational situation of the British: Are the participants happy with their jobs?

• What should a dream job offer?

• What hopes and fears British people hold when starting up?

• COVID-19 and its influence on wanting to go self-employed

• The importance of digitisation when starting a business

What’s the appeal of launching a business?

Almost 60% of British people dream of work freedom and believe that self-employment is the way forward. The best incentives to startup are:

• Flexible working hours (56.7%)

• Better earning opportunities (46%)

• Independent work and self-determination (36.4%)

• Self-realisation (32%)

Another reason for self-employment is that almost a quarter of participants are dissatisfied with their current job situation.

Key findings from the study

• 1/4 of Brits are dissatisfied at work

• Guarantee of happiness: The British belief self-employment makes them happier

• Going solo: The British prefer to do business alone

• Starting up as a mother is a minefield

• Lack of financial resources prevents Brits from starting a business

• The pandemic has fueled the desire to go self-employed

• Digital business models are the way of the future

• The importance of online presence for one’s own business has increased as a result of COVID-19

Why the wait in making these business dreams come true?

There are plenty of reasons why self-employment seems attractive; flexible working hours, no wage cap, independent work, self-determination and self-realisation. Yet many Brits are holding back on starting their own businesses. Why? The study explored exactly this. The British public was asked about their dreams for going self-employed and their fears of not doing so.

The result: “It is the lack of financial resources that most often prevents potential founders from implementing their business ideas. Better financial support would encourage more Brits to start their own business.”

Men have it better in the workplace

Almost 61% of the female participants stated that they wanted to become self-employed because of unequal workplace treatment and better working hours. Other factors for their start-up dreams include a better work-life balance and a lack of recognition at their current jobs. It’s no surprise really, as women suffered significantly more in their careers as a result of the pandemic when compared to men. 

COVID-19 has sparked inspiration for business ideas

You may have thought that the pandemic has only increased the need for job security – but this isn’t the case. Over 40% of the participants now find self-employment more attractive than ever since the world stopped. 

The results in detail:

• 44 %: The COVID-19 pandemic has not changed my attitude

• 25 %: A business with an online presence would be more important to me now

• 23 %: I would only start a business with a digital business model

• 15 %: I would now choose a different industry

The study says “Job loss and the transition to working fewer hours may have sparked this desire. Past crises have shown that necessity creates new opportunities. Business models adapt to the Corona crisis—creating new opportunities for startups.”

Those that do want to startup stated that the pandemic would affect their businesses, for example, many acknowledged the importance of having an online presence for their future companies. The younger participants even stated they would stick to a completely digital business model forgetting analogue practices altogether. 

To read more about how business has changed since COVID, download the free IONOSE SE Study “British Dreams and Wishes: A Business Survey” here.