Self employment jobs soar to 75 year high

The number of those in self employment jobs has risen to numbers not seen since the 1930s new research shows.Self employment jobs soar to 75 year highBarclays estimates that nearly 480,000 new businesses were created over the past year – a record – and said official statistics revealed that self employment now stood at the highest level relative to the total working population for 75 years.

“The UK is in the middle of a boom for start ups. Our best guess is that in England and Wales we are up 4pc to 5pc in the year to November and that’s on the back of two strong years,” said Richard Roberts, small and medium enterprise analyst at Barclays.

He said more people were setting up their own ventures because being self employed had become more socially accepted.

As the economy has shown little sign of recovering for the past two years, people were taking the plunge, he said.

Most new business owners would have spotted an opportunity to make money, but some will have been made redundant and had no choice.

“In the early 1980s and in this downturn it is deeper and longer and setting up a business becomes a necessity. You can’t put off the plans,” said Dr Roberts.

However, he warned that more start-ups could shut down next year as they struggle to make enough money.

The Government should make sure start-ups receive enough business support, he added, as the demise of the Business Link network and regional development agency-funded support could leave a temporary gap as new programmes take time to come on stream.

The latest official Labour Force Survey figures for October show a record 4,138,000 people were self employed, up 4pc year on year.

“It is the highest absolute number since records began,” said Dr Roberts. Companies House said there were 2,555,320 active companies on its UK register by December 18, up 5.7pc on the year before.

Dr Roberts said the total stock of businesses would edge up by one or two per cent in 2011 because the number of firms closing their doors had also risen. “Closures have risen but we are still seeing a net gain,” he said.

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January 9, 2012 · Home Based Jobs · Comments Closed
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