Britain is on the cusp of an entrepreneurship surge that could reshape the workforce and inject billions into the economy, according to new research revealing that one in ten adults plans to start a business within the next year, the equivalent of more than 5 million people.
The findings, published in the Entrepreneurship Revolution report from Block and Public First, paint a picture of a UK increasingly powered by independent enterprise, side-hustles and digital-first microbusinesses. The report warns, however, that outdated financial systems and a lack of modern tools risk throttling the country’s entrepreneurial potential.
The report suggests the country’s startup culture is being fuelled overwhelmingly by younger adults. Two-thirds (67%) of 18–34-year-olds say they are considering, or actively interested in, starting a business, compared with the national average of 40%. Nearly two in five (38%) young adults have already launched a small business or side-hustle.
Side-hustles are fast becoming a pillar of the UK economy with 15% of Brits already running one and 13% doing additional work, such as tutoring or childcare, to supplement their income.
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