self-employment

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... »

Graduates Choose Self-employment

Almost a quarter of students graduating this year and in 2011 are making plans to set up their own business, research from insurance firm Hiscox has revealed. The poll of 1,000 students carried out in June 2010 found that 32% already have a business idea and are making plans for it to become a reality. It also highlighted that one in three were considering working for themselves due to the current shortage of jobs. “There is evidence to suggest that the slowdown in the post-recession job market has been a driver for graduates to start their own business,” said Hiscox SME expert, John Heaney. “This is unsurprising considering nearly two-thirds of the students we surveyed were concerned that they might not be able to secure a job post university, and almost a third believed that there are ju... »