New study reports rise in British parents with plans to start their own business

Recent research, carried out on behalf of the government-backed scheme, Start Up Loans Company, shows that two-thirds of parents in the UK would like to open their own business.

When asked why parents wish to establish their own business, the majority claimed increased flexibility to be the main reason, followed by the opportunity to be their own boss, potential earnings, pursuing a hobby, and sense of self-achievement.

Interestingly, the survey uncovered that the number of children that UK adults have in their family varies their attitudes towards starting their own company.

While parents with one child cited potential earnings as the most attractive part of starting a business, parents with two and three children placed the highest importance on flexibility. Parents with four children are attracted by the thought of being their own boss.

Tim Sawyer, the CEO of Start Up Loans Company, says: “Our survey shows that there are many parents who are not giving up on their business dreams and are still considering establishing their own companies, mainly as this would give them more flexibility to look after their children.

“We’ve seen many parents coming to us with their business ideas and dreams, and turning them into a successful business. Some parents actually got their business ideas thanks to their children.“