UK Entrepreneurial ambition continues to soar, with 47% of UK adults considering starting a business or side hustle in 2025, a 12% increase from last year. This rise, revealed in the latest Start Up Ambition Report by Enterprise Nation, reflects the nation’s desire to earn extra income amid rising living costs and a growing trend of monetizing skills and hobbies.
The report highlights the strongest rise in entrepreneurial aspirations in the past three years, with 30% of adults interested in starting a venture in 2023, 35% in 2024, and now peaking at 47%. Gen Z and millennials are at the forefront of this shift, with 62% of 18-30-year-olds and 51% of 31-40-year-olds eager to launch a business within the next year.
UK Side Hustle Surge Driven by Financial Pressures and Passion
As UK Entrepreneurial ambition grows, 33% of respondents are motivated by financial pressures or the desire to monetize hobbies, while 27% are driven by a passion to follow their dreams. Women, especially those balancing work with caregiving responsibilities, are more likely to consider side hustles than men. Popular sectors for new startups include food and drink (14%), arts and crafts (15%), and beauty, which resonates most with 18-24-year-olds (16%).
The rise in entrepreneurial ambition is exemplified by stories like Daniella Conway’s. A 29-year-old finance associate in London, Daniella is launching TRVLR, a group travel planning platform, this month as a side hustle. Her journey, from attending the Enterprise Nation StartUp Show in January 2024 to securing angel investment and completing an accelerator program, reflects the determination driving the growing entrepreneurial spirit in the UK.
Entrepreneurship Becomes Mainstream Career Amid Financial Challenges
Emma Jones, CBE, founder of Enterprise Nation, observed: “This growing entrepreneurial spirit reflects a cultural shift, with starting a business now seen as a mainstream career path. Accessible technology and quality business support are empowering more people to pursue their ambitions.”
However, financial support remains a significant challenge, particularly for younger entrepreneurs. The 51–64 age group is also deeply impacted by economic uncertainties and a lack of awareness about available resources. First-year entrepreneurs expect an average income of £34,000, with women anticipating nearly £10,000 less than their male counterparts.
Enterprise Nation’s annual StartUp Show, set for January 25, 2025, in London, is poised to inspire over 1,000 aspiring entrepreneurs. Sponsored by leading organizations such as Constant Contact, Monzo, and Vodafone Business, the event will feature key insights from notable figures, including BBC broadcaster Emma Barnett and her husband Jeremy Weil.
This year’s findings highlight the resilience and creativity of the UK’s growing entrepreneurial ambition, as people adapt to economic challenges through entrepreneurship.
