Global survey reveals top sectors for aspiring entrepreneurs

Clothing stores, bakeries, software companies, and farms have emerged as the most popular ventures among aspiring entrepreneurs globally, according to data from the business planning platform Venture Planner. The recent analysis draws on anonymised data from over 200 countries and more than 40,000 businesses, illustrating diverse entrepreneurial trends and motivations worldwide.

The data highlights that clothing stores are the top choice for new entrepreneurs, followed by bakeries, software companies, and farms. This variety indicates the broad spectrum of interests and opportunities available to new businesses across different regions.

The entrepreneurial journey for many remains in its early stages. Venture Planner's data shows that nearly half of the entrepreneurs are in the idea stage, accounting for 47%, while 42% are just starting out. Only 11% have reached the growth stage of their business. This suggests a fertile ground for innovation and new business ventures, with a significant number of entrepreneurs at the beginning stages of exploring and developing their ideas.

One notable finding is that Myanmar holds the highest proportion of startups, with 69% of businesses in this phase among countries reporting more than five entries. This indicates a particularly dynamic entrepreneurial culture in Myanmar, with many individuals actively working on actualising their business concepts.

Funding needs are a critical concern for many entrepreneurs. The data reveals that 72% of businesses on the Venture Planner platform seek funding, underlining their ambitious growth plans and the high costs associated with launching new ventures. This demand for funding points to the substantial initial investments needed to establish businesses or to scale up operations.

Alex Clansey, CEO and co-founder of Venture Planner, commented, “Our data highlights a compelling trend. 72% of businesses require external funding to get off the ground or scale their operations. This demand for funding underscores the ambitious growth plans of today's entrepreneurs and the substantial initial costs associated with launching new ventures.”

Clansey also noted, “It also reflects a vibrant startup ecosystem and a supportive investment environment. At Venture Planner, we are committed to helping these businesses navigate the complexities of securing funding and turning their innovative ideas into successful enterprises.”

The most common sectors requiring funding are clothing stores, software companies, farms, bakeries, and cafes. Conversely, among businesses that do not require funding, the leading sectors are clothing stores, beauty salons, bakeries, candle stores, and cosmetics stores.

Geographically, the United Kingdom leads with 8,434 businesses on the Venture Planner platform, followed by the United States with 5,007 businesses. This substantial presence in the UK and the US indicates strong entrepreneurial ecosystems, supported by robust infrastructure and resources for startups.

Other notable regions include South Africa with 3,428 businesses, Jamaica with 2,737 businesses, and Nigeria with 2,628 businesses. These areas illustrate the global nature of entrepreneurship and the varied opportunities available around the world.

Overall, the data from Venture Planner paints a picture of a diverse and dynamic global entrepreneurial landscape, with different regions and sectors showing unique strengths and opportunities for growth.