Despite struggling high streets and constant reports of the decline of disposable income amongst consumers, budding entrepreneurs have not been put off selling to consumers. According to Sage, retail is still the most popular choice of sector for prospective business owners.
Sage’s survey of 3,320 people found that the second-most-popular sector for the UK’s emerging start-ups was ‘business services’.
The research also found that despite London being the home of the UK’s financial sector, it might not be the leading city when it comes to cultivating tomorrow’s small business owners; Instead, the likes of Newcastle, Sunderland, Sheffield and Leeds have the highest concentrations of would-be entrepreneurs.
Sage also found that the North East of England is home to the largest proportion of budding start-ups, with 11% of its population reporting that they’re planning to start a company, compared to 9% in London.