The survey of 1500 UK adults conducted by the web hosting company found that only 14 per cent would consider the impact of technology such as smartphones, notepads and Internet applications, before concluding whether or not to launch a business.
Poor economic factors and fear of losing money remain the primary reasons for reluctance to start a new project.
As the UK economy slowly returns to growth, the Home Business
Survey finds that there may be thousands of entrepreneurs currently
‘sitting on the fence’ over whether to launch their own business.
The good news is that the vast majority of Britons (72 per cent) would consider or have considered having their own business project. However, the data suggests that a number may not take the plunge because they unaware of how much technology can help to design and manage their work.
When asked about the main factors for consideration in whether or not to launch a business project, only 14 per cent would look into what impact technology could make on their work patterns. This is despite 1 in 4 people having doubts about their ability to cope with running a business effectively. In scoping a business idea, the most popular groups to consult for strategic advice are banks (35 per cent), potential clients (31 per cent), stock suppliers (27 per cent) and then friends and family (25 per cent).
Stephen Holford, Marketing Director, Fasthosts Internet Ltd, commented: “It
is vital for anybody thinking of starting their own business to know what is
technologically possible from the very start. Selling goods and even
services online is often incorrectly regarded as beyond the reach of
non-technical people. Family responsibilities and financial aspects are
always pressures that need to be considered. However, the huge range of
Internet-based tools available for mobile working means that work patterns
can be far more flexible and mobile than ever before. It is vital that
before deciding if a start-up project is achievable, one looks carefully at
what technology is available to help.”
Of course, the decision to launch a business project should never be taken
lightly. The most common factors deterring people at this time are primarily
financial ones. The unattractive economic climate is most on people’s minds
(36 per cent), as well as fear of losing capital (35 per cent), a lack of
funding (25 per cent) and shortfalls in business knowledge (18 per cent).