Over the last 15 years we have seen an explosion in entrepreneurship and people seeking to be their own boss.
The 3 key reasons for the growth in the number of Start Ups is:
1. Increased speed to market and global reach
With the birth of the internet you can reach the world with your products in seconds.
20 years ago the focus when launching a new product was to gain market traction locally first, then expand to a regional level before attempting to roll out to the entire country. It simply took more time to gain brand awareness without the internet.
Nowadays there are endless success stories of people who have launch a new business from their kitchen table and become a global success all due to the power of the internet.
2. Investment solutions
The Start Up ocean is abundant with financial support, crowdfunding platforms, angel networks and investment hubs all waiting to finance the next big idea. Today the key decision a Start Up has to make is not where do I get my funding from but what type of funding (Equity, Debt financing) should I have.
3. Wealth of expertise
There is a wealth of expertise from toolkits, how to's and success stories to mentors, business coaches and market leaders, all keen to share their experience with budding entrepreneurs. We have even seen entrepreneurship become mainstream with TV shows like Dragon's Den and The Apprentice showcasing entrepreneurial spirit, encouraging anyone to have a go.
This has led to the number of UK Start Ups launching per year to grow from 440,600 in 2011 to 600,000+ in 2016.
'The Start Up Ocean is abundant.