The British Entrepreneurial Boom

A survey by the Office for National Statistics has revealed that self-employment is on the rise in Britain. It is obvious that the recent economic downturn is to blame. Many employers were forced to make redundancies as they found their companies in financial trouble while the economy was going through a tough time.

Now, many people are resorting to creating their own employment, as this remarkable run of job losses left a large proportion of the British population lacking confidence in the employment system.  In fact, the number of people earning a living for themselves is at a record-breaking 4.3 million individuals as of 2013. The number of self-employed people has been gradually increasing since the start of the recession between 2008 and 2009.

This period saw a 15% increase in people creating their own jobs, and it is an astonishing discovery that around 60% of these changes took place after 2011. Other statistics have revealed that not all these people in self-employment had actually lost their jobs. Actually, self-employment contributed towards 40% of the loss of employee jobs, meaning many people had the option to stay in employment, but opted to be their own boss instead.

Such news is very positive for the economy, as many of these individuals will create jobs for other people, which will help drastically reduce unemployment and give the country’s GDP a boost. The Office for National Statistics also underlined that 395,000 more people are in employment compared to last year’s figures; a clear indication that an economic recovery is in full swing. Britain is more entrepreneurial than ever, and reports say this trend only seems to be getting stronger. It is obvious that many of these people will need help with company formation, as the process can be daunting at times.

At eformations, we offer professional assistance with such services, and help with related issues like company restoration and company name checks as well. We have a team of professionally trained employees who are highly skilled and experienced in the company formation field. We will be able to give you many options using services that are of benefit to your organisation. If you need more information regarding our top quality services, please do not hesitate to contact us on 02082325479.

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