Business ideas abound in Britain

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Great business ideas are being pursued by millions of Brits

A new study by online print and design company MOO has highlighted the wealth of entrepreneurial talent that is to be found across the length and breadth of the UK, with millions of Britons hoping to start their own business in the next year.

According to the company's findings, 82 per cent of people across the country came up with a prospective business idea in the last year, while 5.5 million budding entrepreneurs are keen to test their mettle and hope to start their own venture within the next six months.

Broken down by location, the top three hotspots for entrepreneurial activity in the UK were shown to be Wales (27 per cent of people here have a new business start-up in mind), Brighton (26 per cent) and Liverpool (24 per cent).

Moreover, the types of businesses that UK entrepreneurs have in mind to create also vary considerably, ranging from arts and crafts (16 per cent) to writing (12 per cent), cooking or baking (13 per cent) and reselling goods online (11 per cent).

However, what is a common thread for all of these people is their drive to do something different, to take a step into the unknown and follow their heart.

Overall, passion for a particular subject or skill was shown to be the strongest driver of new businesses, followed by individuals spotting a gap in the market and hoping to fill it.

Richard Moross, founder and chief executive officer at MOO, told Smallbusiness.co.uk: "As an entrepreneur, I'm delighted that Britain's entrepreneurial spirit is booming, with thousands of people coming up with ideas for new businesses every day."

Finding the right support was shown to be one of the biggest stumbling blocks to success, with many new businesses failing as a result of individuals either not having the right skills, finances or that push that many need from friends or family.