Nearly 12 million people plan to start their own business within the next two years, a new study suggests finds that many of these new SMEs will begin life as a pop-up store.
Research from telecommunications giant EE has found that 29 per cent of new British firms will operate as a pop-up store.
This new study, which involved over 2000 people, is conducted annually by EE and the Centre for Economics and Business Research (CEBR). Last year the two firms discovered that pop-up stores contribute £2.1bn to the UK economy.
This has seemed to inspire the next generation of pop-up owners, as this year’s study found that 39 per cent of people have been inspired by the success of these temporary stores.
‘‘This research shows that Britain is now a nation of aspiring business owners. Whether you’re starting your first business on your own or you’re an established company testing out a new location or product, pop-ups have become a tried and tested business strategy,’’ stated Mike Tomlinson, director of small business, EE.
Although British entrepreneurs are inspired to create new businesses, they are concerned by the challenges placed in front of them. 32 per cent of people surveyed worry about having the right equipment to help their pop-up progress into a larger company.
The research discloses some of the nation’s favourite types of pop-up stores. Mini food retailers are the UK’s pop-up of choice with 30 per cent of the vote, followed by drink pop-ups with 18 per cent.