UK Entrepreneurs' Confidence in Growth Lags Behind US Counterparts

Micro‑Biz Owners: A Tale of Two Nations

When GoDaddy’s latest Venture Forward study popped up, it was clear: the UK’s own micro‑entrepreneurs are feeling a tad less hopeful than their U.S. counterparts. And no, it’s not just the weather.

Where the Numbers Stack Up

Confidence in the Economy: 60% of U.S. owners believe things are on track versus only 42% of Brits.
Business Outlook: 72% of American entrepreneurs are feeling good about growth, compared to 55% in the UK.

Silver Linings in the UK

Despite the grimmer numbers, there’s a silver thread: British confidence is climbing. In January 2023, only 18% of UK SME owners were optimistic – now, that figure has jumped to 42%.

Who’s Running the Show?

Age Gap: More than half of UK owners (51%) are Millennials or Gen Z (18‑42 years old). In the U.S., that figure sits at just 36%. The U.S. also has a bigger chunk of seasoned founders (22% aged 57‑75 vs 12% in the UK).
Gender Mix: Women own slightly more than half of U.S. micro‑businesses (51% vs 47% male). Across Britain, male owners hold the edge at 56%, leaving women at 42%.

GoDaddy’s Take

Laura Messerschmitt, President of GoDaddy International, weighed in: “It’s our first broad‑scale comparison between UK and U.S. micro‑businesses, and the results are fascinating. In both countries, starting a new venture remains affordable – 73% in the UK and 67% in the U.S. spend less than £5,000/$5,000 to launch.”

“Even with the cost‑of‑living crunch gnawing on the UK, our data shows a resilient, optimistic community. The U.S. leaders are a bit more bullish, but that’s no surprise.”

Going forward, GoDaddy plans to keep shining a light on the hurdles — and opportunities — for micro‑entrepreneurs across the Atlantic.