Almost two-thirds of UK adults believe traditional careers are less secure than they used to be, as confidence in the jobs market and employment prospects wanes, according to new research. The Business Ownership Index reveals that 60% of UK adults hold this view, while only 21% expect to follow a traditional career path with a single employer. Almost a quarter believe the traditional corporate career is effectively dead in the water.
Unemployment and AI fuel doubts
The findings come as unemployment in the UK reaches 1.78 million, with the jobless rate at 4.9%. Young people are being particularly hard hit, with unemployment among 16 to 24-year-olds reaching 16.4%, while experienced workers face the threat of redundancy and uncertainty over their future careers.
Against this backdrop, growing numbers of people are looking beyond traditional employment, according to the study on behalf of BusinessesForSale.com, viewing business ownership as a route to greater control, financial resilience and long-term security. The findings suggest Britain is undergoing a fundamental shift in attitudes towards work.
Wage growth and earning potential
Three-quarters (76%) of UK adults believe wage growth has failed to keep pace with inflation, while more than half (52%) believe working for someone else limits their earning potential. In contrast, 54% believe owning a business is the best way to maximise earnings, rising to 65% among 18 to 24-year-olds and 60% among 25 to 34-year-olds.
Despite growing enthusiasm for entrepreneurship, many believe government and public policy is failing to keep pace. Over half (54%) say entrepreneurship is not well supported in the UK, with too little help for people wanting to run their own business.
Barriers to business ownership
Experts believe practical barriers are holding back entrepreneurship. Finance, confidence and awareness remain the biggest obstacles. Crucially, many people still assume starting a business from scratch is the only route to ownership, despite buying an established business often providing a faster and more accessible alternative. According to the research, 35% of UK adults are unaware they could buy an established business rather than start one.
Andrew Markou, CEO and co-founder of BusinessesForSale.com, said: "We're living through a period of profound change. Artificial intelligence, rising living costs, wage growth failing to keep pace with inflation, and greater economic uncertainty are all causing people to question whether traditional employment can still deliver the financial security it once promised."
Entrepreneurs share experiences
John Preston moved from a senior derivatives and sales professional to scaling an education business, Mathsnasium, to 43 locations, with 12 more in development. Preston said: "The corporate world feels a lot more fragile these days. There’s less security than there used to be, particularly for those in their 40s and 50s. I’ve seen more people leave the City and other corporate roles to buy or build businesses. They want greater control over their own future. With a franchise, the business model and support are already there, so you’re not having to work everything out from scratch. You have the opportunity to build something of your own, creating wealth you can pass on to the next generation."
Jenna Hill built a £1million portfolio by buying businesses and not working in them. Hill says: "I've bought six businesses, and I didn't start any of them from scratch. Buying an established business means you inherit customers, staff and cash flow from day one, and the finance is far more achievable than people think, with options like seller finance and deferred payments that don't rely on you having a big lump sum. The biggest barrier isn't money, it's that most people don't know this route exists."
Markou added: "We've spent years talking about side hustles and earning extra income. But our research suggests more people are questioning whether an employer alone can provide long-term financial security and are increasingly looking to business ownership to build their own future. Britain hasn't lost its appetite for work or success. What we're seeing is a growing entrepreneurial spirit, with more people determined to create their own opportunities rather than rely entirely on someone else's business."
"If we can give people the confidence, knowledge and support to act on that ambition, the rewards will extend far beyond individual success. More businesses mean more jobs, stronger local economies and a stronger country."
Shift away from office careers
The findings also point to people rethinking traditional career paths, with increasing numbers questioning whether office-based careers still offer the safest route to long-term security. Almost eight in ten (79%) people believe skilled trades such as electricians, plumbers and builders now offer a safer long-term career than office jobs.
Artificial intelligence appears to be a major factor behind this shift. Nearly three-quarters (72%) of UK adults believe AI will threaten many jobs, while half (50%) expect AI to significantly replace human work within the next decade. As a result, many people now expect jobs, careers and even entire industries to look very different over the coming years.
