New research suggests that 2018 is set to be a record year for start-ups’ success, with 76 per cent of business owners saying they are currently working on new ideas and 43 per cent aiming to launch this year.
Entrepreneurs appear to be fired up, with 56 per cent of those polled saying they have previously moved from conception to launch of a new business within 24 months.
They also have strong views on the use of media in their marketing plans, with 77 per cent believing that having a strong media presence is important to their customer base.
Interestingly, while only 34 per cent of those who had previously started up a business said they used social media for marketing purposes for their previous launch, 63 per cent of them said that it would play a significant role in the launch of their next venture.
Facebook came out top of the social media tools, at 73 per cent, followed by Instagram at 69 per cent, LinkedIn at 66 per cent and YouTube at 59 per cent. Interestingly, only 43 per cent of business owners said they would use Twitter.
However, it appears that entrepreneurs would prefer to rely on digital marketing specialists to draw up their strategies, with only 42 per cent saying they would conduct their campaign using in-house resources, as opposed to 58 per cent who said they would use an agency.
This might be because more than one third of the business owners polled said that their first venture had lacked strategy, with some saying that if they were to launch another venture, they would put more focus on this.