Figures from Local Business Week released recently showed that more and more people want to start their own businesses. However, research has also indicated that there are still significant barriers to growth for small businesses in the UK.
More than one in three (36 per cent) said they wanted to be their own boss while 35 per cent stated they would like to determine their own working hours. It was also revealed that taking pride in owning your own business is a leading reason for going it alone, with one in four people polled saying this is why they would start their own company.
There are certainly plenty of individuals pursuing this career path; data from the Federation of Small Businesses shows that 3.7 million (63 per cent) of the UK’s businesses are sole proprietorships while 99.9 per cent of businesses fall into the SME category.
For those wishing to follow suit, buying an already established business – perhaps finding one that has entered administration for a knockdown price – is one way to become your own boss and realise any ambitions you’re harbouring for a more autonomous life. This is no simple task though.
Despite the fact that SMEs and microbusinesses account for the overwhelming majority of UK businesses, there are still barriers to these companies and individuals getting their aspirations off the ground. Local Business Week’s survey found that a quarter of people are unsure how to go about starting their own business.
Whether buying a business, growing a business or starting one from scratch, it is essential that there are both financial resources and knowledge pools available to individuals or businesses. Without it the task will be too daunting, if not simply financially unfeasible.
As signs suggest economic prosperity is on the horizon, it is time for the banks to start dipping into their pockets and increasing lending to smaller businesses or individuals; indeed it is something that they have been criticised for not doing of late, prompting inquiries into their lending habits.
However, finances are just part of the battle – anyone at the start of the journey to become their own boss must take proactive steps to take advantage of resources and organisations that can help match their goals with viable business acquisitions, offering them a tangible and often physical platform from which to launch their company. 
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
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