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Brits can become the boss in less than two hours

by on February 18, 2022 in Business, Latest News, Lead Article, Lead story, Small Business

Many UK citizens want to pursue their ambition of owning a UK business, yet few people take action to make their dream a reality because they think starting a business is too expensive. But according to new research from the personal finance experts at money.co.uk, People in the UK  can afford to start a business in under two hours.

Money.co.uk sought to discover how long employees in European countries would need to work in their full-time job to afford the startup costs of setting up their own businesses.

RankCountryCost of starting business Required working time to start own business 
1.United Kingdom£11.681 Hour 21 minutes 
2.Denmark£75.156 Hours 6 minutes
3.Republic of Ireland£100.331 Day 1 hour 47 minutes
4.Romania£25.791 Day 7 hours 3 minutes 
5.Sweden£191.452 Days, 1 Hour and 41 Minutes
6.Lithuania£61.782 Days 1 hour 54 minutes 
7.Finland£273.602 Days, 6 hours and 26 minutes
8.France£217.923 Days 4 mins 
9.Estonia£120.953 Days 2 hours 18 minutes 
10.Czech Republic £109.213 Days 3 hours 14 minutes
11.Norway£522.183 Days, 4 hours and 56 minutes
12.Iceland£726.224 Days 5 hours 20 minutes
13.Slovakia£135.085 Days 1 hour 27 minutes 
14.Montenegro£75.916 Days 2 hours 13 minutes
15.Kosovo£41.716 Days 2 hours 22 minutes
16.Portugal£241.906 Days 7 hours 50 minutes
17.Germany£542.201 Week 1 hour 28 minutes 
18.Bulgaria£120.591 Week, 2 hours and 49 minutes
19.Greece£216.881 Week 5 hours 38 minutes
20.Serbia£81.101 Week 5 hours 43 minutes
21.Latvia£204.391 Week 6 hours 15 minutes 
22.Turkey£75.821 Week 6 hours 30 minutes 
23.Switzerland£1,044.531 Week 7 hours 7 minutes
24.Luxembourg £922.891 Week 7 hours 16 minutes 
25.Spain£509.641 Week 4 days 7 hours 11 minutes 
26.Poland£247.582 Weeks, 5 hours and 54 minutes
27.North Macedonia£136.543 Weeks 4 hours 58 minutes
28.Netherlands£1,501.483 Weeks 3 days 1 hour 45 minutes 
29.Austria£1,696.673 Weeks 4 days 7 hours 16 minutes
30.Hungary£422.024 Weeks 2 hours 21 minutes 
31.Belgium£1,788.974 Weeks, 1 day, 3 hours and 33 minutes
32.Cyprus£1,263.744 Weeks 3 days 4 hours 36 minutes
33.Croatia£625.624 Weeks 4 days 5 hours 31 minutes 
34.Albania£422.4611 Weeks 3 days 7 hours 52 minutes 
35.Italy£3,288.1311 weeks 4 days 5 hours 42 minutes 
Source: Money.co.uk

Brits would need to work for just 1 hour and 21 minutes to earn the (£11.68) required to start up their own business. 

In the second position is Denmark, as Danes would need to work for 6 hours and 6 minutes to cover the startup costs needed to set up their own enterprise. 

The Republic of Ireland is in third place. 1 day, 1 hour and 47 minutes is the time the Irish would need to work to have enough income to fund the startup costs required for their independent business venture. 

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