Millions of pounds lost to Britain’s fear of failure

Research by the newly-relaunched Business Link shows that a quarter of the working population believes there are good opportunities to start up new businesses – but a fear of failure is holding them back.

If only one per cent of UK workers overcame their fear and started up a new business, the UK economy would receive a boost of over £33m, if each individual made a profit of just £1,000. If five per cent overcame their fear and took a leap into entrepreneurialism, then the injection would be £163m – while, if all of them took the leap, the benefit would be £3.25bn.

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If you’re looking to start a business, before you do, take a look at our start up page and also consider downloading the free e-book: 50 Essential Business Advice Tips To Prevent Your Business From Failing.

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