One in three Australians considering starting a business in 2020

New research that shows almost two in five Australian workers (39 per cent) feel dissatisfied with their current job, while a further one in three (30 per cent) are considering quitting their job to start their own business in 2020.

The research coincides with “Blue Monday”, the term coined for the most depressing day of the year to go to work.

GoDaddy’s Job Satisfaction Research found that over half (54 per cent) of respondents are considering a career change in the year ahead. Of these, 18-29-year-olds are the most likely to pursue their entrepreneurial dreams, with almost half (48 per cent) of this demographic considering shunning traditional employment to start their own business and pursue a more flexible and potentially financially rewarding career in 2020.

When it comes to job satisfaction, males (41 per cent) were more likely to feel dissatisfied in their job than females (36 per cent), while 25 per cent more males surveyed are considering quitting their job to start a business in 2020, than their female counterparts.

Over one in three (35 per cent) of all respondents said that increased earning potential was their primary motivation to start a business this year, followed by an improved work/life balance (30 per cent) and the ability to pursue a passion (17 per cent). Amongst those considering starting their own business this year, retail and service-based industries are the most popular; retail (13 per cent), hospitality (9 per cent) and IT (8 per cent).

“Many people romanticise about starting their own business, whether it be to increase their earning potential or achieve a better work/life balance, as our data suggests,” commented Jill Schoolenberg, Regional President for Australia, Canada and Latin America at GoDaddy.

“Yet, starting a business from the ground up may seem challenging, and that’s why we strive to provide tools to help Aussie small-business owners and entrepreneurs feel more empowered as they embark on their entrepreneurial journeys online.”

Alongside increased earning potential and improved work/life balance, 10 per cent of would-be small-business owners surveyed said they are motivated by making an impact, or having a solution or innovation for an industry or societal issue.

Of those surveyed who had considered setting up a business in the past, 62 per cent said cost was a preventing factor and 40 per cent felt finding advice and guidance was a hindrance. However, establishing a business online shouldn’t be costly nor difficult to find the right tools to get started according to Schoolenberg.

“Today, more than ever, the costs of starting a business online can be reduced with affordable web-based tools to help people quickly, easily and affordably build and manage an online business,” Schoolenberg said.

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