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More people than ever are starting their own business

A recent report from Aston Business School has revealed record numbers of people are starting their own business. Whether as a limited company or self-employed, 20 per cent of those of working age are actively engaged in trying to start, or have just started, their own business. This is a record number since monitoring began in 1999. Despite the recession, only 15 per cent of prospective start-ups have been due to necessity such as job loss, the remainder being opportunistic.

An £82m government loan scheme to encourage young entrepreneurs has become available, contributing to the figures and the Prince’s Trust – which offers grants of similar size – is also involved. It is hoped the schemes will encourage another 30,000 start-ups.

What might be encouraging this entrepreneurial trend further is a notable improvement this year in hiring levels for contractors. Another recent report, this time from a major recruitment company, notes that hiring levels for contractors are 14 per cent higher now than they were during the last quarter of 2011. This is most likely due to large businesses reducing headcount and relying more on contract staff during these difficult economic times. In particular, IT and finance contractors have found themselves in demand for the public sector to staff the transition of the NHS to Clinical Commissioning Groups from Primary Care Trusts.

For the budding entrepreneur, this is the time when a cheap accountant for contractors should be seriously considered to help put the start-up on as firm a footing as possible.

Posted by Louise
September 11, 2012
Small Business

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