A report by the CEBR and YouGov has revealed that 12 per cent of British professionals have left their jobs to become entrepreneurs, turning their “passions into pay cheques”, with technology, retail, blogging and vlogging being the most popular industries. 32 per cent said they quit their jobs to pursue a business idea because they wanted a change of lifestyle, while 14 per cent were driven by the desire to be their own boss.
The survey, which questioned 511 micro-businesses, found that more women than men have pursued a business idea they were passionate about. Of all those quitting their jobs to pursue a a career centred around a hobby or passion, the majority said they expect to take home a salary of £22,594 in their first year of working.
At Beavis Morgan, we work with a number of entrepreneurs and startups, helping them set up and run their businesses, whilst navigating the challenges and advising them on making the right decisions both now and for the future. We also understand that whether you’re a start up or a well-established business, cash is king and managing its flow is crucial to your immediate and long-term success. That’s why our independent finance brokerage, BM Structured Finance, is readily available to assist startups source the right funding for their individual needs.