Starting a business today costs less than the average weekly wage

New research by freelancer website PeoplePerHour has found that the initial price of starting a business has fallen dramatically thanks to the opportunities of social media and widely available business advice.

With this in mind, it's no surprise David Cameron's enterprise adviser Lord Young recently said: "this is a very good time to start a business."

Of course, this doesn't mean all entrepreneurs should be abandoning their incomes after one week to commit to starting up their own businesses, but it does mean the barriers to starting up are falling and there's less to stop you from getting your business going than ever before.

Anyone can start-up

More than three-quarters of micro-businesses are started with less than £2,000 in funding. The world of start-ups has changed so dramatically that the doors are open to everyone to see what they can achieve on their own.

"Starting a business is now most definitely open to anyone," says Xenios Thrasyvoulou, founder and CEO of PeoplePerHour. "You don't have to be from a wealthy family, have a background in finance or have started on your entrepreneurial journey while in your teens."

PeoplePerHour's report also found that more than a third of micro-business owners started their business while still working and that 28% of micro businesses were started by entrepreneurs over 40.

Photo from bigstock

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