Orange uncovers the UK's "dormant entrepreneurs"

Orange has revealed that the UK is a nation of “dormant entrepreneurs”, with over one third (37 per cent) of the UK’s working population having come up with a business idea or invention which they believe could be a success1. However, 70 per cent of those with an idea have not acted on it, with 28 per cent not even knowing where to start, indicating a lack of guidance and support for would-be entrepreneurs as barriers.

In addition, concerns over not having enough money (21 per cent) and the prospect that the idea may fail (14 per cent) were cited as key reasons why new business ideas often fall by the wayside. Economic factors are exacerbating tahese concerns, with 44 per cent of respondents believing a recession makes launching a business riskier, and that they would prefer to work for somebody else during difficult times.

To help overcome such fears and foster the UK’s entrepreneurial spirit, Orange Business has launched a competition to find Britain’s brightest business idea, and support its growth into a successful company. With a prize worth up to £200,000 The Orange Different Business Competition2 is calling on aspiring entrepreneurs with a new idea or a fresh business approach, to visit the Different Business website – www.winyourbusiness.com – and submit a business plan by 30th April, 2012.

The winner will receive a full, ongoing support package, including business advice and mentoring from Kingston Smith, one of the UK's top 20 accountancy firms; communications support from Orange; expert marketing consultancy from Publicis Chemistry, and legal advice from Lewis Silkin, a firm of solicitors specialising in corporate and commercial law.

The survey from Orange also showed that many of the UK’s employees dream of working for themselves. Nearly 40 per cent of those asked said they work for someone else, but would rather be their own boss. The ability to leave on time (39 per cent) and to fit work around family commitments (54 per cent) were both cited as important elements of ideal jobs. The Orange Different Business competition will provide the brightest entrepreneur in the country with the opportunity to take control of their working life in just this way, achieving the flexibility managing your own business can bring.

Mike Southon, author of The Beermat Entrepreneur and expert on entrepreneurialism and business, commented: “The entrepreneur is the backbone of the UK economy. We are a nation of small businesses, so it is surprising that many people are too nervous to throw their hat into the ring and start their own company. For that reason, initiatives such as this business competition from Orange are great as they help some of the brightest talent in the country to get a step up on the business ladder, and achieve the full potential of what they – and their businesses – are capable of.”

Mike Shirley, Head of Small Business Propositions at Everything Everywhere, said: “This survey shows that the UK is brimming with business ideas, but many are simply not making it to the development stage. By not trying to make their ideas a reality, Britain’s ‘dormant entrepreneurs’ are missing out on life-changing opportunities. Our competition is a chance for us to find an innovative and fresh thinker, and give them a network of industry experts to help them flourish. Orange Business aims to help small enterprises everyday by providing them with the devices and services they need to turn their business ideas into a reality. With such support, businesses should feel empowered to think differently and be fearless when pursuing their creative concepts.”

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Notes to editor
1. 2000 UK adults in full time employment were surveyed by OnePoll between the 8th and 9th March 2012
2. Please visit here for more details on the terms and conditions of the competition - http://www.winyourbusiness.com/terms_and_conditions.php

About Orange UK
Orange is the key brand of the France Telecom Group, one of the world's leading telecommunications operators. With almost 131 million customers, the Orange brand now covers Internet, television and mobile services in the majority of countries where the Group operates.

In the UK, Orange provides high quality GSM coverage to 99% of the UK population, and 3G coverage to more than 93%.
Orange and any other Orange product or service names included in this material are trade marks of Orange Brand Services Limited.

On July 1 2010, the company became part of Everything Everywhere, one company that runs two of Britain's most famous brands - Orange UK and T-Mobile UK - with plans to transform the industry by giving customers instant access to everything, everywhere, offering them the best value, best choice and best network coverage in the country. Everything Everywhere Limited is the UK’s biggest communications company, with a combined customer base of almost 28 million people and more than 720 retail stores across the country. Everything Everywhere Limited is registered at Hatfield Business Park, Hatfield, Hertfordshire, AL10 9BW under the registered company number 02382161.

For more information please call the Orange Press Office             0870 3731500      , or visit www.orange.co.uk/newsroom