Technology skills cited as top startup barrier

Brits aren't launching their own businesses because they don't have the technical knowledge to do so

powering digital skills

Research conducted by YouGov on behalf of GoDaddy has revealed Brits are failing to start their own businesses because they don't feel they have the right technological skills and tools, business knowledge, or money to do so.

The report revealed the major barriers to companies getting off the ground, despite significant investment, are lack of finances (51%), lack of business knowledge (29%) and lack of technological skills (11%).

The research also revealed those wanting to start a business don't know which tools to choose when looking for the right software to support their business.

This is despite 37% of respondents saying they have started the process of setting up their own company, but decide to cut their losses and step away from the idea.

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The research was conducted as part of GoDaddy's strategy to support small businesses by launching the tools to help startups become a success.

Forming the centre of this new offering are new website builder tools, which the organisation claims combine everything a new company would need to set up and develop its online business, including an easy to use interface, supported by machine learning, a mobile payment platform and the marketing and ecommerce support.

Earlier this month, the company also announced a specific Business Hosting package for fast-growing small businesses that will support small business' next stage of growth.

"We've noticed fast-growing companies with resource-intensive websites upgrade to advanced hosting or VPS solutions for enhanced performance capabilities. The jump can be jarring, and there's typically a complex learning curve as well," Demetrius Comes, vice president of engineering at GoDaddy said.

"GoDaddy Business Hosting is a direct result of simplifying and enhancing the customer experience. By marrying our preconfigured cPanel offering and the performance of VPS, we're the first to provide an advanced hosting solution without the need for server management or server administrative skills."

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