An entrepreneur is someone who starts and manages their own business, taking on financial risks in the hope of making a profit. Entrepreneurs are often innovators who create new products or services, or find better ways to deliver existing ones. In the UK, being an entrepreneur means identifying opportunities, creating a business plan, securing funding, and managing all aspects of a business, from marketing to finance to operations. Success can be very rewarding, but it also involves a lot of hard work, problem-solving, and resilience, as not all businesses succeed. Many entrepreneurs work alone at first, but as their business grows, they may hire staff and expand operations. Entrepreneurs contribute significantly to the UK economy by creating jobs and driving innovation.
Entrepreneurs can earn from £20,000 to over £100,000 per year, but income varies greatly depending on business success.
In 2022, over 800,000 new businesses were registered in the UK.
Around 42 percent of UK startups survive for five years or more.
Leads the creation and growth of a new technology company, developing innovative products or services in areas such as software, mobile apps or artificial intelligence.
Starts and manages a business that aims to tackle social or environmental issues, combining commercial skills with a strong focus on making a positive impact.
Operates a business under the brand and business model of an established company, such as running a chain restaurant or retail store in a local area.
Observe problems or gaps in the market and think about possible solutions.
Talk to people, read news articles, and look for trends or areas where people struggle. This could be in your local community, school, or a sector you are passionate about. Keep a notebook of ideas and be open to inspiration from everyday life.
Check if your idea is practical and if people would pay for your product or service.
You can do this by speaking to potential customers, running surveys, or creating a basic version of your product to get feedback. Validation helps you avoid wasting time and resources on ideas that may not work.
Write a detailed plan outlining your goals, target market, finances, and strategy.
A good business plan includes information about your product or service, who your customers are, how you will reach them, your competition, and your expected costs and income. This plan will help you stay focused and is often needed if you want to raise money.
Choose a business structure and register your company with the appropriate authorities.
In the UK, you can set up as a sole trader, partnership, or limited company. Each has different legal and tax implications. You will need to register with HMRC and possibly Companies House, depending on your chosen structure.
Find the money needed to start and run your business.
Sources of funding include personal savings, loans, grants, or investment from friends, family, or business angels. Research what is available for new businesses in your area, and prepare a pitch or application if required.
Promote your product or service to attract customers.
You can use social media, local events, flyers, or online advertising to reach your target audience. Building a website or using platforms like Instagram and Facebook can help you connect with customers and grow your business.
Track your business performance and make changes as needed.
Use simple tools to keep an eye on your sales, costs, and customer feedback. If things are not going as planned, be flexible and ready to try new approaches. Learning from mistakes and adapting quickly is key to long-term success.
Advises companies on how to improve their operations, management, and profitability, often drawing on experience gained from running their own business.
Oversees the development and delivery of products, working with teams to bring new ideas to market, similar to launching a new business.
Invests in new and growing businesses, helping entrepreneurs with funding and advice to scale their ventures.
Explore relevant apprenticeships that can help you kickstart your career in Entrepreneur. Apprenticeships offer hands-on experience and training while earning a wage.
An entrepreneur often possesses extensive experience in establishing and managing their own business, which aligns with the core responsibilities of a business adviser. Both roles require providing strategic guidance, understanding market dynamics, and supporting business development.
You can get into this job through:
You could do a foundation degree or degree in:
You'll usually need:
You can start by doing a junior management consultant higher apprenticeship.
This typically takes 24 months to complete.
You'll usually need:
You can apply directly to employers if you've got proven experience like running your own company, or working in management, finance or human resources.
You'll need to show a wide range of skills, including:
You could develop your knowledge and skills by doing business support and mentoring qualifications, like those offered by the Small Firms Enterprise Development Initiative.
Qualifications include:
You can use online social media sites, like LinkedIn, to promote yourself, build up your network and show recommendations from colleagues and clients.
You could join the Institute of Enterprise and Entrepreneurs for professional development, training opportunities and to make industry contacts.
You can find out more about working in business advice from GOV.UK and your local Growth Hub.
Explore other careers or use our AI to discover personalised paths based on your interests.
Address
Developing Experts Limited
Exchange Street Buildings
35-37 Exchange Street
Norwich
NR2 1DP
UK
Phone
01603 273515
Email
[email protected]
Copyright 2025 Developing Experts, All rights reserved.
Unlock expert-designed lessons, resources, and assessments tailored for educators. No credit card required.
Claim Your Free Trial →
