A recent report published on startups.co.uk reveals that modern entrepreneurs are shying away from traditional start-ups in favour of lifestyle services like wedding planning and life coaching.
Data from Business Link for London’s (BL4L) StartQuest service – an email course providing guidance on setting up a company – shows a shift in the types of businesses being run by new entrepreneurs. In 2002, repair companies, construction firms and hotels were the most popular choices for budding business brains. This year, however, BL4L has seen a significant increase in requests for advice on going it alone with a so-called ‘lifestyle business’. These include event organisers, cafe owners and fashion designers.
Judith Rutherford, BL4L chief executive, said: “Within the top 15 most requested business areas on StartQuest, there are coffee shop owners, online auctioneers, life coaches and wedding planners.
“This really highlights a growing trend for entrepreneurs to start a business in sectors and fields that would have been unheard of from as little as five years ago.”