starting a business

Starting a Business: Why Do People Take the Plunge?

People choose to take the plunge and start their own business for various reasons. Be it financial gain, frustration in their current role, lack of job opportunities, or the big business idea – perhaps they have designed the next best thing to a bread slicer. In addition to people’s inner drive or motivations, the UK government is also trying to encourage more of us to go into business. One example is George Osborne increasing the bank levy by £800 million for 2011 to persuade lenders to finance small businesses. To better understand why people start their own business, professional indemnity insurer, Hiscox ran an online poll asking entrepreneurs what motivated them to turn their idea into reality. Possibly surprisingly, the main reason wasn’t financial gain. Rather, Hiscox found 32... »