One in five North Easterners would like to start a business

An estimated 25% of North Easterners would like to start their own business if the right advice and funding was available to them, according to a survey commissioned by Virgin StartUp.

Only one in ten of respondents stated fear of failure as reason to not become their own boss.

Feeling intimidated by the complexity such as accounts, tax and VAT (27%) and a lack of knowledge of how to go about starting up were cited as key reasons to avoid the entrepreneurial path.

The survey is designed to promote Virgin StartUp’s upcoming HotHouse Tour, which begins at The Baltic Centre of Contemporary Art on Thursday January 30.

For more information on the event and business start up, visit the Virgin StartUp site here.

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