One in four Brits dream of being their own boss - and 31 is deemed the perfect age to start
60% of Brits (1) think about starting a business at least once a week – and 15% think about it every day
But financial instability (36%), lack of skills and experience (18%) and a lack of professional connections (16%) are stopping people taking the leap
Aspiring founders believe it would take an average of £28,000 to get a small business off the ground
To help turn ambition into action, giffgaff has launched The Board, a new YouTube series where entrepreneurs can receive a £5,000 grant or mentorship from experts Patricia Bright or Jordan Schwarzenberger
New research from giffgaff reveals that just over one in four adults (27%) want to start their own business, with many regularly imagining what life could look like if they were their own boss.1
In fact, 15% of those who like the idea of going it alone admit they daydream about launching a business every day, while a further 60% think about it at least once a week. The average person believes 31 is the perfect age to begin a new venture.
The findings suggest entrepreneurial ambition is alive and well across the UK, with 8 in 10 looking up to people who have built successful businesses from the ground up, citing their drive (49%), confidence (38%) and resilience (29%) as their most admirable qualities.
However when it comes to getting their business off the ground, fear of financial instability is the biggest barrier for over a third (36%), while 30% worry about a fear of failure. Others feel held back by a lack of professional connections (16%) and 15% believe there’s just not enough time in the day to create a business.
The research also found that hopeful entrepreneurs estimate it would take an average of £28,000 to get a small business off the ground, highlighting the perceived financial hurdle standing between many people and their ambitions. However, with the typical UK adult having around £5,500 (2) in savings and many businesses able to launch with start-up costs of around £5,000, perceptions around how much money is needed may be holding aspiring entrepreneurs back. (3)
To help tackle some of these barriers giffgaff has launched The Board, a new six-part YouTube series designed to support eager entrepreneurs to make their next move through the guidance, advice and funds needed to grow their start-ups.
The series sees six aspiring business owners map out the future of their businesses on a game board while established entrepreneurs Patricia Bright and Jordan Schwarzeberger follow their progress and decide if the player has what it takes. If the player makes it through the game, they can receive a giffgaff grant of £5,000 or a mentorship with Patricia or Jordan.
Kate Dohaney, CEO at giffgaff, said: “It’s clear there’s a huge amount of ambition across the UK, with people looking for new ways to build something of their own, develop an idea or take the next step in their working lives. But there are also very real barriers around confidence, support and access to practical guidance.
“That’s why we created The Board. It’s about shining a light on those challenges and helping people learn from others who have been through it themselves. We’re passionate about helping people make their next move, whatever that looks like for them.
“The Board is designed to give people useful insight, encouragement and practical support to help them move forward with more confidence.”
Patricia Bright, expert on The Board, said: "If you can solve a problem, teach a skill or create something people enjoy, there's often a way to turn it into income.
“The biggest mistake I see is people waiting until they feel completely ready, when in reality, confidence usually comes from taking that first step rather than having all the answers from day one. Whether you're 21, 31 or 51, the most valuable thing you can do is start learning, testing your ideas and building momentum.”
Jordan Schwarzenberger, expert on The Board, said: "One of the biggest misconceptions about starting a business is that you need to quit your job and take a huge financial risk from day one. Many successful businesses start as side hustles, allowing founders to test ideas, learn from customers and build momentum while maintaining financial security. The most important thing is getting started in a way that works for you."
Patricia has also shared her top tips for anyone considering starting their own business:
1. Start before you feel completely ready - You can spend forever perfecting a logo, website or business plan. At some point, you need to put something in front of a real customer. Your first version probably will not be your best version, and that is completely fine. Start, get feedback and improve.
2. Know exactly who you are selling to - Everyone is not your customer. Get specific about the person you are helping, the problem they have and why they should choose you. When you understand your customer properly, everything from your product to your marketing becomes easier.
3. Learn your numbers, even if numbers are not your thing - Revenue sounds exciting, but revenue is not profit. Know what it costs to deliver your product or service, what you actually make from each sale and how much money you need to keep the business running. You do not have to be an accountant, but as a founder you cannot be afraid of your numbers.
4. Do not spend like the business you hope to become - You do not need the expensive office, huge team or perfect branding on day one. Keep your costs lean and spend money on the things that help you make a better product, reach customers or generate revenue. Looking successful and building a successful business are two different things.
5. Your first idea does not have to be your forever idea - Some of the best decisions I have made in business have come from being willing to change direction. Listen to what your customers are telling you. Pay attention to what is working rather than becoming attached to your original plan. The goal is to build something that works.
Patricia’s golden rule: You do not need to know everything to start a business. Know your customer, know your numbers and be willing to learn quickly
The first episode of The Board is available on YouTube now and episodes will be released every two weeks and the first episode features Danielle: Owner of sustainable skincare brand, My Skin Feels.
ENDS
For further information please contact
giffgaff@splendidcomms.com or 020 7553 7300
Notes to Editors
Research of 2,000 UK adults conducted by OnePoll between 16th to 18th September 2026.
Analysis of Office for National Statistics Wealth and Assets Survey data, reported by ClearScore/NimbleFins, estimates that the typical (median) UK adult has approximately £5,500 in savings and other financial assets.
Money.co.uk, How much money do you need to start a business in the UK in 2026?, published 2 April 2026.
Expert Biographies:
Patricia Bright is an entrepreneur, award winning content creator and founder of The Break, a platform dedicated to helping women build confidence, financial knowledge and opportunity.
With a career spanning over 15 years, Patricia has built a global digital audience while turning her personal brand into a multimillion pound business. Alongside creating content, she has launched and invested in businesses, built teams, negotiated major commercial partnerships and experienced firsthand the highs, mistakes and growing pains that come with entrepreneurship.
Jordan Schwarzenberger is Co-founder of Arcade, the entertainment company building Europe’s biggest creator media brands including The Sidemen, Max Fosh, Fallow Chefs, Faith Kelly, John Nellis and Generation Football.