When we took a look into it, we discovered that although 40% of Brits want to start their own businesses, only 15% of the population are classed as self-employed. So what’s holding so many of us back from becoming our own boss?

We think a major factor is... confidence

Give It A Go

The vast majority of people we help to start their own boss are more Joe Bloggs than Steve Jobs. What they achieve though, is no less impressive. Starting their own business hasn’t meant giving up secure jobs, looking after family members, or taking huge risks.

Think hairdressers, dog walkers, fitness instructors, IT consultants, retailers, plumbers and electricians. These are just some of the business ideas we’ve seen started alongside other jobs, caring responsibilities, and studying.

Supporting these sort of entrepreneurs is something we are incredibly proud of.

So, in 2019 we’re making it our mission to break down the barriers that often hold entrepreneurs back from fulfilling their dreams and ambitions.

Introducing: Give it a go 2019

To encourage more of us cautious Brits to ‘give it a go’ in 2019 and finally become their own boss, we’ve launched our brand new start-up loan campaign.

‘Give it a go 2019’ is our streamlined start-up loans process which specialises in awarding loans of between £500 - £5,000 to help those that want to become self-employed realise their dreams this year.

It’s perfect for those that want to explore becoming self-employed, either while still working full or part-time and/or by turning their hobby or skill set into a full-time business.

Still need to hear more? No problem. Below, we’ve debunked some of the most common reasons that hold people back from becoming self-employed:

Don’t let ‘career uncertainty’ put you off

When 10,000 people were asked ‘what puts you off being self-employed?’, 47% of people responded with ‘a lack of stable income’. Granted, if you want to found a business that will need your full-time attention - such as a business that will serve its customers strictly on a 9-5 or early-late basis - then this would require you to make a serious time commitment in order to turn the idea into success. This could mean that starting your business while holding down a full-time job is not a viable option for you.

But the vast majority of us would want to become self-employed by doing something we already know and love, such as turning a hobby or skill-set into a sustainable business that gives us the freedom to generate our own income and choose the hours we work. If this is exactly the type of business that you want to start, then chances are you can absolutely start your business without leaving your job.

Keeping your current job, even by cutting down your hours, can give you the best of both worlds to try out becoming your own boss while ensuring that you stay financially secure.

Many of our start-up loan recipients opt for this approach when they first embark on their entrepreneurial journey. It can make the whole idea of becoming your own boss much less overwhelming and give you more confidence in your business idea too, as you can secure the demand you need before leaving your job to pursue the dream on a full-time basis.

Why Give it a Go in 2019: Don’t let ‘securing funding’ put you off

You might think that in order to secure start-up funding, you need to have the next groundbreaking idea, a history of sales or proof of future orders such as a long waiting list of customers all clamouring for whatever it is you plan on offering.

In reality, most of us that want to go self-employed just need a small amount of funding to get started. This might be cash for items such as:

  • A vehicle
  • Equipment (such as health & beauty or fitness equipment, labourer tools, computers or technical equipment etc.)
  • Stock
  • Marketing materials
  • To cover your wages in the very early days

These examples are all very typical of the kind of things our entrepreneurs need finance for, and importantly, are all items that could be purchased by applying for a ‘Give it a go’ loan with us for between £500 - £5,000.

Why Give it a Go in 2019: Don’t let ‘hypothetical problems’ put you off

It’s a fact that it’s much easier to talk ourselves out of doing something than it is to encourage ourselves to take action. 24% of people are put off starting up because of the responsibility or stress.

We’re not going to say it’s all plain sailing - starting up your business is hard work, but it can also be very rewarding too. According to a 2018 survey by the University of Sheffield, self-employed people are happier and more engaged with their jobs than those working in any other profession.

If you’ve always dreamed of becoming your own boss and simply need a small loan (of between £500 - £5,000) to get started, then get in touch to find out more today.