More than half-a-million Scots expect to start their own business 

The How Scotland Lives study has shown that more than one-in-nine Scots anticipate starting a company on their own or with a partner, the equivalent to 12 per cent of the Scottish adult population of 4,459,590.

The research also shows that a younger demographic comes out on top for entrepreneurial confidence with more than a quarter (26 per cent) of Scots aged 25-34 and almost a quarter (24 per cent) of 18-24 year olds expecting to start their own business.

By contrast, just one-in-33 (3 per cent) of those aged 55 and over see themselves starting a company.

The Bank of Scotland research also went on to highlight the rise of the savvy Scot, with almost one-in-six (17 per cent) selling goods online to make extra money.

The research shows that the average Scot has received £337.53 from selling on sites such as Gumtree and eBay.

Those aged 35-44 come out on top for most frequently selling items online, with more than half (55 per cent) selling goods over the internet. By contrast, more than a quarter (28 per cent) of the over 55s use online sites for selling items.

Research also shows that more than a quarter (25 per cent) of 18-24 year olds, almost a quarter (24 per cent) of 25-34 year olds and almost a fifth (18 per cent) of 35-44 year olds use online selling platforms specifically to supplement their own income.

Jo Harris, managing director of retail business banking at Bank of Scotland, said: “It’s not surprising to see that so many Scots are making in-roads to starting their own companies. We’re living in a digital-age where information is readily available at people’s fingertips, helping them to achieve their start-up goals with more confidence and support. We’re also confident that people are inspired by Scotland’s increasing status as a start-up hotspot, particularly within the tech sector.”