Ryan FowlerA recent survey by FreeAgent reveals that the upcoming general election is causing hesitation among potential UK entrepreneurs, with 58% stating it significantly influences their decision to start a business.
Nearly half (49%) feel deterred due to economic uncertainty ahead of the election, and many are concerned about the cost-of-living crisis and government policies for small businesses.
Despite political and economic worries, many still aim to launch their businesses within a year, mainly to achieve better work-life balance (46%) and have more control over their work (34%).
Interestingly, the survey indicates that confidence is not a general obstacle, with 62% believing they can overcome business challenges.
Roan Lavery, CEO and co-founder of FreeAgent, commented on the need for political clarity: “Many budding entrepreneurs are clearly considering the possibility that there may be big political and economic changes on the way, particularly if there is a change in government, and are waiting to make any concrete plans to start their own businesses.”
