Britain’s high streets could soon be invigorated by a new wave of entrepreneurs, according to a study.

Britain’s high streets could soon be invigorated by a new wave of entrepreneurs, according to a study.

Research from business software provider Sage UK reveals that one in five people planning on starting a business will open up a physical shop in the next two years.  

The Entrepreneurial Britain study of 3,320 people explores respondents' plans on setting up a business, where these businesses will be and in what sectors, with retail proving the most popular.  

High street shop closures have impacted town and cities across the UK. In 2011 the problem reached its peak with 14 shops closing every day, with many high streets yet to recover.

However, just under half of all entrepreneurs (47 per cent) plan on starting a business in a shop or office.  

Lee Perkins, managing director for Sage’s small business division says, 'Despite the success of firms like Amazon and Facebook, it’s fascinating to see that the next generation of entrepreneurs are still drawn to bricks as much as clicks when it comes to setting up a business.

'Everyone has business potential and it is encouraging to see so many people set to launch a new venture in the next couple of years. Whether it’s the Mary Portas effect or not, without doubt, there is hope for the UK high street.'
 
More than half of all 18-24 year olds (52 per cent) that are planning on starting their business are aiming to do so in a bricks-and-mortar shop.  

Studies on shop closures have shown that the North East of England is the area hardest hit, with 15 per cent of retailers closing. However, Sage’s research suggests that things are looking up for the region, as it had the highest number of people planning on starting a business compared with the rest of the UK with retail being the most popular sector (22 per cent).

See also: High street humbug for Christmas