The current employment environment should be encouraging entrepreneurship among Britons according to the REC.
The comment follows the 60th birthday of Richard Branson and might inspire more people to become contractors and start working for themselves or through umbrella companies. The REC believes that young people will have a better chance of getting their first foot on the jobs ladder if they look to alternative routes such as self employment. The director of the organisation’s Business Support Unit pointed out that sometimes all it takes is one good, marketable idea.
He went on to add that effective support structures can enhance entrepreneurship and as new businesses expand it is a key driver for the future creation of jobs.
The FSB also agrees and expects that this year will see a record number of people turning to self employment and become freelancers as a direct result of the UK’s high unemployment rate. The national chairman of the Federation, John Walker, said that the low employment rate worries everybody and he expects more people will go it alone and become their own boss. However, on a cautionary note, he warns that anyone setting up on their own needs to be aware on certain tax legislation and he advises limited company contractors to get professional advice from a specialist accountancy service if they are unsure about any aspect of their tax affairs.
Over 55% of the UK’s students think the country does encourage entrepreneurship but 87% think the government should invest more in entrepreneurs to ensure continued job creation.
Richard Branson was only 16 when he started his first business and he is now worth £2.6 billion.
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