Continuing with the trend of individual entrepreneurship, research has discovered over one in five Brits have an ambition to start their own business or side hustle. The findings further show that one-third of these people aim to take up this enterprise within the next two years.
According to these Brits, being your own boss (40%) and enjoying more flexibility (40%) are the primary reasons for wanting to exit the traditional 9-to-5 work setup. The survey, which engaged 2,000 adults, showed other motivations such as seeking independence (35%) and striving for a superior work-life balance (35%).
Interestingly, 16% of respondents admitted they were already managing side businesses. Meanwhile, 13% were actively saving funds to achieve their future business objectives. Considering options, it seems 53% prefer working solo, whilst 29% would rather collaborate with partners.
This study was commissioned by AXA as part of its Startup Angel competition, wherein contenders could land grants of up to £25,000 to fund their entrepreneurial ventures and receive mentoring from flourishing entrepreneurs.
Deepak Soni, representing AXA UK said: "Whether it's turning a side hustle into a business or launching a startup from scratch, it's clear that being your own boss is on the agenda for many people across the UK. Whatever industry they're looking to venture into, running a small business requires hard work, determination and a bit of help along the way. Creativity and innovation are the cornerstones but having the necessary support both emotionally and financially is the springboard to success."
Hanan Tantush, a bright spark and AXA Startup Angel winner from 2023, has turned her passion for creating adaptable clothing for people with disabilities into a thriving business venture. The 22 year old entrepreneur from Neston was inspired to launch Intotum after witnessing her grandfather's struggle to find comfortable and stylish attire suitable for his stoma and urostomy bag, post his third cancer battle.
She shared: "I've been working on adaptive fashion for three to four years, so it's been a long development process collaborating with the disabled community, I've been learning as I design."
Highlighting a significant gap in the market, she noted: "Clothing is designed from a standing perspective, all the patterns are made for someone to walk down a catwalk, automatically excluding many with a disability, something I'm passionate about changing."
Tantush took a targeted approach, saying: "I chose to start working with wheelchair users, creating my own custom patterns and styles to cater for someone seated, including ambulatory wheelchair users."
Her ambition didn't stop there, as she explained: "From there, I've gone on to create a whole collection that also caters for people with stomas and sensory needs, which is just the beginning for Intotum."
GB wheelchair basketball star Amy Conroy, who's gearing up for her fourth Paralympic appearance in Paris this summer, has already given Hanan's innovative clothing line a test drive.
She expressed: "It's great that there are innovative people like Hanan who recognise the everyday challenges faced by people with disabilities and want to make things better for them. This clothing range could really be a gamechanger and I'm looking forward to trying out more of her designs in the future."
In addition, Deepak Soni stated: "It's fantastic to hear how last year's winner Hanan has gone from strength to strength with a business that has such a positive impact on people's lives."
"We're delighted to have played a small role in her success, and that she's been able to turn her passion into her full-time job."
"It takes a lot of dedication but we know there is a whole raft of entrepreneurs who want to take the next step like Hanan, and we're here to help them."
