Podcast: Where Do Business Brains Have Their Eureka Moments?

New study reveals the places where UK business brains have had their ‘Eureka!’ Moment

Nearly half (49%) of British entrepreneurs had their business idea in bed. At work, with friends and on the toilet were also ranked highly as some of the best spots for business inspiration.

The research, undertaken among 500 UK entrepreneurs to mark the launch of a new, online service from Business Link designed to help people start their businesses, showed that ‘bed’ ranked within the top three places for having that ‘Eureka!’ moment.

‘Work’ and ‘while talking to friends’ also rated highly as the most likely spots for a business idea to be conceived. An honest number of entrepreneurs surveyed also admitted that the toilet was a prime location for coming up with a killer idea – with women more likely to have their idea here than men.

When asked about the reasons for starting up a business, ‘having power and control over their lives’ the ‘personal freedom of going alone’ and ‘knowing they had a great idea that could make money’ were the top reasons for starting up.

As for the tipping point that made them act upon their desire to start up their own business, the panel of entrepreneurs said that seeing other friends take the leap (34%) was the primary motivation, followed by being made redundant (20%), watching Dragons’ Den (16%), having a baby (12%) and moving house (5%). Men were most likely to be moved to action by being made redundant (23% of men as opposed to 18% of women), while Dragons’ Den was also more motivating for men (17%) than women (15%).

The research has been carried out to mark the launch of two new services on Business Link, designed to help people start, grow and improve their businesses. The new Start-Up Service, called My New Business, is for people in the stages of starting up a business and provides everything they need to know to get off the ground and plan for future success.

Interviewee: Jonathan Hollow, Director, Business Link

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