Starting a New Business in the Shadow of Brexit

Starting a New Business in the Shadow of Brexit

Is now a good time to follow your dreams and become your own boss?

With the news seemingly dominated by Brexit and all the uncertainty around what Britain’s exit from the EU will mean, you might be forgiven for thinking that most people would not regard this a sensible time to consider setting up their own businesses. But according to the Idinvest Entrepreneurial Motivation Index – a barometer of Entrepreneurial  enthusiasm, published last year –  you would be quite wrong in that assumption.

Some of the key findings from this survey might well surprise and encourage you in their forward looking optimism. Here are three examples;

  • We Brits display optimism for the UK’s Economic outlook which is more positive than our European neighbours hold for their own Economic futures.
  • The UK is considered the best country in which to start a business. Germany is second followed by Sweden, Switzerland and then France.
  • Over half of the UK population are keen to start their own business!

At We Love Pets we find that last point really interesting and it is worth understanding it in a little more detail. The research showed that, contrary to what many might think, it is the younger generations who are leading this charge;

  • Over three quarters (76%) of all of 18-24 year olds and 70% of 25-34 years olds were very attracted to the idea of becoming entrepreneurs.
  • These were followed by two thirds (66%) of 35-49 year olds and just under half (48%) of 50-64 year olds indicating that they are keen to become entrepreneurs in the future.

These findings are really thought provoking. Perhaps they represent the higher numbers of young people who have been through the University systems and realise that they don’t automatically have to go from school or college to working for an employer.  Or perhaps in part this reflects the fact that these guys are going to have to be their own bosses running a successful business if they are ever going to earn enough to pay off their student loan debts or own their own houses!

Given that over half of the population of the UK would like to start their own business the survey researchers tried to ascertain just how serious these future entrepreneurs actually were and the findings are amazing;

  • 16% of these aspiring entrepreneurs already had definite plans to launch their business within a year of the Idinvest survey.

Based on these figures that means almost 2 out of 10 people living in the UK will be entrepreneurs by the end of 2018. How fantastic is that!

What is holding back these latent Entrepreneurs?

Age appears to be a factor for many – despite 76% of 18 – 24 year olds expressing a desire to own their own businesses of all those who were surveyed 60% felt that they would need to be over 30 before they could start their own business, but the sadly the survey did not explore why.

There were three other key factors that were identified as being a blocker to starting up a business;

  • financing,
  • ambition
  • an innovative idea.

For us here at We Love Pets we are actually quite encouraged to hear that these are the key reasons holding people back from starting their own businesses. So why do we feel this way? Because we definitely have the solutions to at least 3 of these 4 blockers!

If we take Financing first – you absolutely do not need a lot of cash to start your own “We Love Pets” Pet Care Franchise business.  You can become one of our franchise partners for just £10,000. Furthermore you won’t need to find all that cash up front.  We have made arrangements with HSBC who have agreed to consider lending We Love Pets franchisees up to 50% of the total start-up costs including working capital, supported by a business plan and a good credit history. Learn more here

Next let’s look at an innovative idea.  We don’t need to tell you that Britain is still a nation of pet lovers. Put this fact together with the fact that we all seem to be working longer hours and therefore the need to outsource some of our pet care responsibilities has become much greater and simply put that means that the Pet Care market space is absolutely booming. A We Love Pets franchise – with all the support and backup that we provide – will put you at the heart of this outstanding business opportunity.

What about the Age issue? For us it simply isn’t an issue! We don’t put any age restrictions on our franchisee partners. As long as you meet our acceptance criteria we don’t care if you are 18 or 80. We won’t deny that you will need to put in some hard work and we’re very proud of our high standards so maintaining them demands a committed, hard-working team of franchisees. However, it’s true; hard work really does pay off. View our Next Steps here

Ambition – So we can certainly help you with the other 3 but this one really is down to you. If you have the ambition and the drive we can help you to become a successful franchise owner – and probably much quicker than you might think! Have a look at some of our existing franchisees – they aren’t super-humans (well to us they are!)  – but really, they aresimply hard working, committed and dedicated – just like you!

Where does the uncertainty around Brexit feature in all this?

The Idinvest research found that 62 per cent of the UK population believe that uncertainty surrounding the Brexit timeline is a constraint to starting a business in the UK.  So clearly Brexit uncertainty is a factor. BUT if we drill further into this statistic we see that the top five issues relating to Brexit uncertainty – i.e. the issues that are concerning potential entrepreneurs – are;

  • Access to the single market (30%)
  • Fundraising Climate (29%)
  • Regulation (23%)
  • Investment in infrastructure (23%)
  • Consumer sentiment (21%)

 

If we then ask the question; How many of these will have any impact on your ability to successfully develop a We Love Pets Franchise?

The answer is – at a real stretch – possibly two; The Fundraising Climate and Consumer sentiment. But as we have already stated – you only need a minimal amount of capital and we can definitely help you with that element. And with regard to consumer sentiment well this nation loves its pets, so forget the “consumer sentiment” and just see how sentimental we all are when it comes to caring for our pets!

So what’s the bottom line here? Well – if you are one of the 50%+ who would like to take control of their working lives and become their own boss – our message at We Love Pets is don’t let Brexit stop you. There is absolutely no need to wait to see if our Brexit is going to be a hard or a soft one.  Brexit will not in any way impact opportunity to be a highly successful franchisee with us.

Contact us today. Start your future. There really is no reason to delay.  

As the co-founder and CEO of Secret Escapes said recently;

 “The British entrepreneurial climate is as hot as ever, we’re a nation of creative thinkers who value hard work, ambition and aren’t too keen on having a boss. It’s disappointing that we’ve chosen to distance ourselves from Europe but I’m not surprised that budding UK entrepreneurs aren’t deterred, I don’t see any reason right now why people shouldn’t be hugely optimistic about starting their own business”  Alex Saint, Co-Founder and CEO of Secret Escapes

This entry was posted on 17th January 2018.