According to new research from Edinburgh-based cloud accounting provider FreeAgent nearly a third (31%) of Scottish adults have plans to start their own business or strike out as a freelancer at some point in the future.

According to FreeAgent, 7.4% of Scots plan to start their own business within 2021, a further 7.4% plan to strike out in the next couple of years and 17% are planning to do so at some point in the future.

Overwhelmingly, Scots want to start their own business in order to have more choice over what they do for a job with half (50%) of the respondents citing this.

At the same time, over a third of Scots surveyed (36.1%) want a better work/life balance and 30.1% believe they could earn more this way. Similarly, a quarter (25.3%) feel they would get a better sent of achievement from starting their own business.

Expectedly, Brexit does impact entrepreneurial plans with 40% of Scotts saying Brexit puts them off starting their own businesess.

Among the other biggest concerns from Scots when starting a new business were having the confidence to do so (25.6%), dealing with tax (22.7%) and complying with business regulations (21.6%).