Third of young Brits brew business ideas at the pub
A third of young Brits have come up with a business idea over a pint at their local boozer, new research has revealed.
Brits are finding unlikely entrepreneurial inspiration in pubs as 18 per cent of all people in the UK have had a light-bulb business moment here, according to new polling by GoDaddy.
This comes as British pubs continue to bear the brunt of rising hiring costs and business rate reforms, with 539 pubs and bars having declared insolvency last year.
Beyond the fifth of Brits who have had a business idea in the pub, a further 13 per cent have come up with a new website at their local and one in ten say they immediately purchased a domain after downing their last pint.
One in three (32 per cent) under-35s have found business inspiration in pubs and a further 23 per cent devised a website idea over a pint.
Retail firms most likely to find life in pubs
Retail, ecommerce and tech businesses are most likely to have been first discussed in the pub (9 per cent), followed by pet care, fashion and hospitality (all 7.5 per cent).
A ‘Crufts’ competition for talentless dogs, a park inside a warehouse and a chewing gum that never loses its flavour were among the most original ideas to have germinated in the pub, according to the survey.
Dominic Radcliffe, who started his tea business after discussing it with friends at his local, said pubs are the perfect place to discuss and improve on new ideas.
He said: “Pubs are the perfect environment to discuss and improve on nascent ideas. They are cultural hubs where people come together to exchange thoughts and get into topics great and small.
“With that in mind, emboldened by a pint or two, it’s no surprise ideas start to become a reality.”
Alexandra Rosen, head of GoDaddy’s small business research lab, said: “Beyond being a social space, pubs are increasingly a place for people to gain inspiration, test ideas, and take their first steps towards entrepreneurialism.
“We’ve seen a consistent relationship: increases in digital microbusinesses correlate with higher wages, additional local jobs and measurable gains in GDP at the local level.”