technologies

Number of Self-employed Up 700,000 Since 2008

Number of Self-employed Up 700,000 Since 2008

The number of people registered as self-employed in the UK has increased by 700,000 since 2008 and now accounts for 15% of the UK’s workforce at 4.5 million, according to the Bank of England’s (BoE) report. The report concludes that this unrelenting growth in entrepreneurs is a result of technological and demographic changes, opposing concerns that a rise in self-employed individuals means that employment figures are not as healthy as they may initially be perceived. According to BoE’s analysis the boom indicates an increase in the number of low-paid, less intensive self-employment and not a struggling jobs market as just 4% of those registered as self-employed are looking for a job and there has been a rise in the number of entrepreneurs that earn £5,000-£7,500 a year. The BoE believe tha... »