Scotland’s would-be business owners fear the worst when it comes to funding
It might not come as a major surprise, but financial fear is the main barrier stopping Scotland’s would-be business owners from starting their own company, according to new research.
The study revealed that 41 per cent of Scottish adults cited financial fears as the main barrier halting their business dreams, with many declaring that they either do not have the funds, or cannot risk their business failing.
The Start Up Loans Company (https://www.startuploans.co.uk), the Government-backed scheme, surveyed 500 Scots to find out the top barriers halting the start-ups.
The main business barriers are:
Start Up Loans chief executive, Tim Sawyer, said: “Financial fears are always going to be a part of starting a business, but people should know that more and more help is available to alleviate funding pressure.
“There is a misconception that you have to be a business expert to start your own company. But this isn’t the case. Our job is to educate and empower people with the resources needed to start a business, including mentoring support and help with drafting a business plan.
“We want to help as many new businesses as we can. It’s not about just handing someone with no prior experience a loan and expecting things to immediately take off,” Sawyer adds.