New figures have shown the Turner Little team that entrepreneurial ambition is alive and well in the UK. A recovering economy lifted UK self-employment to a record high in the three months to October 2015.
Self-employment surge
Statistical evidence suggests that the UK has recovered from the economic crash of 2007-2008. According to the BBC, data from the Office for National Statistics (ONS) indicates that the UK’s economy expanded by 0.7% in the second quarter of last year, and by 0.5% from July to September 2015.
The UK’s economic recovery has inspired a wave of entrepreneurial ambition. UK self-employment reached new heights in October 2015. Online small business publication Startups recently reported that figures from the ONS show that there are now 4.6 million people in the UK who are working for themselves. Further ONS data shows that UK unemployment stood at 5.2% in December of last year, its lowest level since 2006.
Expert commentary
Commenting on the release of these statistics Chris Bryce, CEO of the Self-Employed & Freelancer Association (IPSE), a membership body for UK-based self-employed individuals, said: “Today’s figures show the UK economy is edging closer to full employment, due in part to the surge in self-employment over the last 10 years.
“The contribution the self-employed make to the UK economy can’t be underestimated, as they raise more than £21 billion for the exchequer each year. Independent professionals and people who work on a freelance basis want their contribution to be valued, and we call on Government to adopt policies that create conditions enabling even more people to begin working for themselves. We know from our own research that the vast majority of people who decide to work for themselves would never go back to working for someone else.”
Turner Little
The ONS’ figures illustrate that revised economic fortunes are allowing more entrepreneurs across the UK to take a chance on a brilliant idea and go it alone. If you want to become self-employed you’ll need to ensure you keep manage cash flow effectively, so you should let Turner Little help. We provide the UK banking services you require to succeed in self-employment.
Turner Little was founded in 1998 and it has since become a well-established UK based professional Company Registration Agents, Registered Bank Intermediaries and Business Consultants, as well as Trust providers.
