Press releases

Nation of Shopkeepers Become Nation of Entrepreneurs

Research released today by Barclaycard Business has revealed that the business environment in the UK continues to foster and encourage entrepreneurship. The research, carried out amongst over 1000 retailers, showed that more than three quarters of all respondents had started their own business, and over a third agreed that the UK was the best place to start your own business.

The South West proved to be home to the most prolific entrepreneurs, with 40 per cent of all retailers having started more than one business.

The research comes from the first Barclaycard Business Retail in Detail Survey; an annual survey of more than 1,000 retailers across the country. The aim of this new survey is to build a comprehensive picture of the nation’s high street and to gauge the views of retail owners in the UK today.

The research also revealed that, although the UK was seen as a good place to be an entrepreneur by business start-ups, more than half (51 per cent) of UK retailers believe that regulation and bureaucracy are the most difficult aspect of starting a business.

Bill Thomson, Commercial Director, Acquiring from Barclaycard Business commented on the results;

“Clearly the UK is still a place where a business can be built successfully. Entrepreneurship provides healthy competition and innovation in all sectors and our research demonstrates that despite some reservations around red tape, this country is still very much a place to start your own business.”

In terms of sectors badly hit by regulation and bureaucracy, more than half of retailers operating in the travel industry (51 per cent) cited these areas as being the most difficult aspects of starting and maintaining a business. In addition, more than a third, (39 per cent) of all respondents suggested that lower business taxes would do most to stimulate the health of the retail economy and encourage entrepreneurship.

Bill Thomson added further;

“A healthy economy benefits us all. We need to both encourage entrepreneurship and support established businesses in our communities. It is important for government, local councils and businesses to operate as a partnership, working together to attract and sustain business in the UK.”