This one key factor is holding British businesses back

New research shows

British entrepreneurs are being held back from achieving their ambitions because of fear of failure, according to new research.

The research, conducted by YouGov on behalf of website building platform Weebly, has found that more than two thirds of British entrepreneurs (71 per cent) believe that fear is what’s preventing more people from taking the plunge to set up their own company.

While one in three British entrepreneurs (31 per cent) also said that launching their own company was the scariest thing they ever did, over half (55 per cent) say that starting a new business is easier than people think.

Another barrier to entry for new businesses is building a web presence, with one in four (25 per cent) of British entrepreneurs saying it can be intimidating.

“At Weebly, our purpose as a company is to unlock people’s entrepreneurial potential by not only helping them initially launch their own business, but to take the next steps as well. When we started Weebly, the biggest challenge was building a website. Now with 40 million entrepreneurs and over 300m monthly visitors to a Weebly site or store, we’re tackling the next hurdle of growing a site into a successful online business,” says David Rusenko, Co-Founder and CEO of Weebly.

“With Weebly 4, we are helping people conquer the hurdle of getting found online and reaching new customers. Right now the business of running a business is a real hassle, and our ultimate goal is to make it much easier for our customers, saving them time, helping them grow and be successful, and ultimately, helping them focus more on doing what they love.”