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One in 5 Brits want to go into business for themselves since lockdown

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Originally written by Rory Bennett on Small Business
One in five Britons have either started a new business since lockdown or plan to start one by the beginning of 2021.
According to Direct Line, the most popular sectors to have started a new business are IT and web design (21 per cent), engineering (14 per cent), building/property (8 per cent), education/ training (8 per cent), retail/wholesale (6 per cent) and business/management consultancy (4 per cent).
The surge to start a new business comes as people have come off furlough since lockdown, often to find themselves unemployed.
The Bank of England estimates that unemployment will spike at 2.5m by the end of this year, with the unemployment rate almost doubling to 7.5 per cent. Over 730,000 people have become unemployed since March according to Office of National Statistics.
Research suggests that young people, aged between 18-34, are hardest hit by the pandemic, but 48 per cent have become or intend to be entrepreneurs.
Of the kitchen-table entrepreneurs who have not yet started their venture, 19 per cent hope to have it up and running by the beginning of 2021.
The survey is supported by Companies House data, which showed that more than three times the average number of

Read more...

Hot Business News Today

One in 5 Brits want to go into business for themselves since lockdown

by  •  • 0 Comments

Originally written by Rory Bennett on Small Business
One in five Britons have either started a new business since lockdown or plan to start one by the beginning of 2021.
According to Direct Line, the most popular sectors to have started a new business are IT and web design (21 per cent), engineering (14 per cent), building/property (8 per cent), education/ training (8 per cent), retail/wholesale (6 per cent) and business/management consultancy (4 per cent).
The surge to start a new business comes as people have come off furlough since lockdown, often to find themselves unemployed.
The Bank of England estimates that unemployment will spike at 2.5m by the end of this year, with the unemployment rate almost doubling to 7.5 per cent. Over 730,000 people have become unemployed since March according to Office of National Statistics.
Research suggests that young people, aged between 18-34, are hardest hit by the pandemic, but 48 per cent have become or intend to be entrepreneurs.
Of the kitchen-table entrepreneurs who have not yet started their venture, 19 per cent hope to have it up and running by the beginning of 2021.
The survey is supported by Companies House data, which showed that more than three times the average number of

Read more...