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Scottish workers dream of running their own business - St. James’s Place

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Seven in ten workers (69 per cent) in Scotland would like the freedom to run their own business one day, according to new research from St. James’s Place Academy, the training and development arm of the FTSE100 financial services company.

In terms of the most attractive things about running a business, 47 per cent of respondents to the wealth management firm’s survey thought having a better work-life balance in terms of more control/setting their own hours would be the best thing. A further 25 per cent thought that better job satisfaction would result, 18 per cent believe they could increase their earnings and 9 per cent like the idea of working from wherever they like.

When it comes to perceptions of what might be the hardest thing about running a business those in Scotland think that managing the finances would be the toughest challenge (33 per cent) followed closely by attracting customers (32 per cent). Roughly equal numbers thought that long hours (17 per cent) and stress (11 per cent) would be the hardest thing to deal with.

Adrian Batchelor, academy director at St. James’s Place Academy, said: “It’s great news to see those in Scotland are passionate about the prospect of working for themselves and that the entrepreneurial spirit is still very much thriving in Scotland.

“The St. James’s Place Academy provides a structured training programme designed to support individuals looking to start their own business with the support of St. James’s Place Wealth Management brand, helping clients to manage their finances and plan for better financial futures. We provide training, financial support, advice and the St. James’s Place brand to Academy Partners, who go on to build extremely successful businesses in their own right.

“As the future of our success depends on a steady stream of people wanting to run their own business to join the Academy, we’re relieved to discover that the entrepreneurial spirit is alive and kicking in Scotland.”

Other significant findings of the research include:

  • 26 per cent of respondents said a loss of income would deter them from running their own business, whilst 20 per cent said a fear of failure;

  • Respondents are more likely to change their mind about running their own business if 42 per cent had more financial certainty whilst 15 per cent would want access to support and advice;

  • Nearly two thirds (63 per cent) are more likely to set up their own business using the support and infrastructure of a larger company.

    • St. James’s Place Academy is hosting an event - Inspiring Women - on 23rd November in London. The Inspiring Women event is designed to motivate, inspire, connect and celebrate women in business.

    Read more about the event here.

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