4 in 5 entrepreneurs are optimistic about 2018

Despite economic concerns and uncertain trading relations with the EU, most start-up founders in the UK are confident about how their business will fare in 2018.

In research revealed by the Institute of Directors (IoD), 83% of entrepreneurs expressed optimism about their business’ prospects over the next 12 months.

At the same time, survey participants were aware of the potential challenges they will face.

First on the list of these concerns was the uncertainty caused by Brexit, while access to finance was identified as the second biggest challenge.

However, awareness of government schemes for funding start-ups was found to be “frustratingly low”.

Accessing the schemes that are already available could give many new businesses the support they need to grow.

Stephen Martin, director-general of the IoD, said:

“Change is not always bad for business and we need to have a different perspective for these ever-changing times.

“Only creative thinking will lead to the new products, services and ways of doing things that can transform our lives.”

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