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Huge pick-up in Brits starting their own companies

Summary

An increasing amount of businesses are being started up by Britons who cannot find work.

Our Solution

An increasing amount of businesses are being started up by Britons who cannot find work. Figures cited by bbc.co.uk show that although UK unemployment dropped by 51,000 in April, 2.61 million still remain out of work. To combat this, it seems groups are deciding to take initiative and go it alone. Another set of data, this time from the Office for National Statistics (ONS), revealed that 84,000 became self-employed in the first three months of 2012. The new additions have brought the total number of self-employed workers in Britain up to 4.7 million. It seems like a sensible decision to make, too. Once a business plan has been drafted, it's then a case of building a garden office and putting in a great deal of work to make the dream become a reality. Talking to taxassist.co.uk, John Walker, chairman of the Federation of Small Businesses, called on the government to back the many deciding to take this route by extending its schemes and offering support to those who may have an innovate idea, but lack the business acumen. "With many people struggling to find work or a full-time job, we should be doing all we can to help those with entrepreneurial spirit to set up in business," Mr Walker commented. "The government's New Enterprise scheme is an excellent idea but needs to be extended if we want to see more budding entrepreneurs turn their ideas and enthusiasm into action."

Author:

Richard Towey

22nd June 2012