Record numbers of individuals registered their own businesses with Companies House in 2014. With the trend set to continue in 2015 it is interesting to see how the market and appetite for self employment sees no signs of abating and highlights how important it is to put in place a support network as a self employed individual or business owner.
Research undertaken by think tank Centre for Entrepreneurs found that 581,173 businesses were registered last year. This figure was around 60,000 higher than 2013, which in itself saw figures posted of nearly 60,000 registered businesses than in 2012. The trend looks set to continue as the more and more people look to take control of their own fortunes in the work place, whether as a self employed individual or owning their own business and hiring and firing rather than being an employee.
It’s not just London and the bigger cities in the UK which are seeing huge numbers of start-up businesses, there is a good spread across the country and it shows the spirit of determination and endeavour is alive and well at a time when the UK job market continues to be in a precarious state. But why are so many people turning to this way of life?
Why the Continuing Trend?
Take Control of Your Own Destiny
It is incredibly appealing to have complete control over your working day, that much is clear to anyone who has had to to slog through a 9-5 working week. With the tough times we have faced as a country economically over the last decade many people have found themselves with shrinking wages and higher living expenses and becoming self employed or starting your own business can return that sense of control that many of us have been missing.
One of the dangers of being self employed in the past was seen as that lack of safety net that a full time contract of employment offers. As this safety net has started to disappear over recent years and more people have suffered due to company closures and the like, owning your own business has become even more attractive a proposition. If you’re going to put all those hard working hours in to your work, why not let it be something you own and have a passion for.
Technological Advancement Makes Things Easier
This is where the biggest change has been, and it mainly concerns the marketing side of a business. In the past you would have to pay through the nose even for a small slice of local exposure, whether it be in print advertising, radio or television. Technological advancements have meant that now, anyone can promote their services, for free, with the smartphone you have right in your hand.
Social media has changed the game and though it isn’t necessarily straightforward to build a successful and sustainable advertising campaign that lasts many years, it is really simple to set your pages up and start interacting with your customers, potential customers and suppliers on Facebook, Twitter, Google +, LinkedIn etc. You don’t need any money, just a little time to begin.
Help is Available for the Day to Day Admin and Support Network
Lastly, there is help available to you as you start your journey as a self employed individual or business owner. The often mind numbing administration tasks that you don’t have to think about as just an employee of a company all have to get completed. Luckily there are virtual assistants and registered city centre addresses where you can have all your official correspondence addressed to.
Also, as more and more people enter this world of business ownerships networking circles are increasing and there does seem to be a real togetherness between people of myriad industries. A place away from the office or home where you can meet like-minded individuals, have meeting room space and a place to work is a great help, especially for start-up businesses and individuals working from home the majority of the time.
That’s where we come in at Keepoint, we offer the administration advice and assistance that can really help you focus on what you are good at without losing sight of the administration that keeps a company ticking over.
Give us a call today to find out how we can help you unlock your business potential.