Skip to main content
Guiding you to a better future


For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

More Brits than ever want to start a business post-COVID

18 January 2022

New research by FreeAgent has found that 64% of Brits have plans to start their own business in the future - significantly up from the 51% who said the same in last year's poll.

The survey, conducted by accounting software firm FreeAgent, has found that two in three Brits (64%) plan to start their own business at some point in the future - over 10% higher than last years' survey (51%). More than one in ten (11%) plan to break out on their own in 2022 and a further fifth (21%) plan to do so in the next few years.

The findings also show that 49% of respondents say they have had to push back their timelines for starting their own business because of the pandemic. However, 27% of respondents said COVID-19 had actually moved their business plans forward and 24% said the pandemic hasn't affected their plans at all.

Younger respondents appear to be the most entrepreneurial, with 80% of those aged between 18-34 revealing they have always dreamt of starting their own business at some point in their lives. However, other age groups also show entrepreneurial intentions, with 60% of 35-54 years-olds and 33% of over-55s saying they harbour plans to start their own business.

Work-life balance

The main motivation for these would-be entrepreneurs is work-life balance, cited by 47% of respondents. Interestingly, the main drivers in 2020 were being able to choose what work they do (for 42%) and being able to earn more money (36%).

This year, the main motivations for starting a business, after work-life balance, are:

  • wanting to be their own boss (44%);
  • choosing what work to do (40%);
  • following their passion (34%);
  • gaining a greater sense of achievement (30%).

Almost a third (30%) of respondents said that they would like to fit work around their family commitments - significantly higher for female respondents (35% compared to 24% of male respondents).

Despite their ambitions, however, 90% of those polled admitted that they do have concerns about running a business. Top worries are:

  • the financial burden of setting up (51%);
  • dealing with tax including VAT and Making Tax Digital (39%);
  • complying with business regulations such as GDPR and IR35 (32%);
  • managing business finances (29%);
  • a lack of government support for freelancers and small businesses (27%).

The research has actually highlighted ongoing confusion around Making Tax Digital (MTD). A worrying 82% of respondents said they are unaware of the upcoming 2024 deadline for MTD for Income Tax Self Assessment (ITSA), which will require self-employed people, sole traders and landlords that have income over £10,000, to use digital software to manage their finances and file their tax returns.

Roan Lavery, ceo and co-founder of FreeAgent said: "The emergence of new businesses will be fundamental to the UK's economic recovery following the impact of the pandemic and Brexit - so it's fantastic to see a 10% increase this year in would-be entrepreneurs saying they want to start their own business in the future.

"However, while this entrepreneurial sentiment is positive on the whole, there are still some concerns. In particular, the research suggests that more needs to be done by the government to provide greater help and support for new businesses - especially around upcoming legislation such as MTD. Without the proper tools, knowledge and assistance that they need to be successful, this new generation of entrepreneurs will be unable to provide the UK with the economic boost that it needs over the coming years."

Written by Rachel Miller.

Stay up-to-date with business advice and news

Sign up to this lively and colourful newsletter for new and more established small businesses.

Contact us

Make an enquiry