Last Wednesday I saw an interesting programme on BBC 2 called ‘How to Beat Tough Times: Money Watch’. The programme discussed some key issues regarding the current economic climate and how the recovery is predicted to be worse than the recession itself and I thought it raised a few points that would be interesting for those looking to take the plunge and start their own business.
Current unemployment figures are between 9 – 13% and are likely to rise to almost 3 million by 2012. With some 250,000 people choosing part-time work to keep a steady income rather than face no work at all; there has been a huge change in the way we work. Flexible working patterns such as a 4 day week and taking a 20% pay cut have been introduced to avoid dramatic job cuts.
So, although the outlook for the economy is looking grim, now may be the perfect time to use some of that entrepreneurial spirit of yours and go it alone. Business specialist, Doug Richard, who is better known for his stint on Dragon’s Den, claims that new business start-up costs are lower now than in the last 20 years. He highlights that the internet has brought costs down and the increasing power of social media such as Facebook and Twitter to get the message out.
The North West (where one of our offices is), and Manchester in particular, has seen a 14% increase in small businesses starting up in the last year. There are a number of measures in the recent budget designed to promote small ventures and new start-ups, including tax reliefs. The government hope to create 2.5 million jobs in order to cover the loss from the public sector. The cuts made in the public sector may allow room for contractors to step in and take over the critical projects that need finishing.
In the UK, 6% of us now run our own business. If any of you are wanting to join that 6%, whether it be because you want to take home more money, you want to make a permanent career out of contracting or maybe just like the idea of being in control of your own limited company then now may be your chance. As specialist contractor accountants, at ClearSky we are here to help you to go it alone. So, if any of you need some more advice on setting up your own Limited Company; here’s the link to our useful guide “The Survivor’s Guide to Contracting”.
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Tags: BBC, ClearSky, contractors, DOUG RICHARD, uk government
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July 21st, 2010 by Derek_KellyLast Wednesday I saw an interesting programme on BBC 2 called ‘How to Beat Tough Times: Money Watch’. The programme discussed some key issues regarding the current economic climate and how the recovery is predicted to be worse than the recession itself and I thought it raised a few points that would be interesting for those looking to take the plunge and start their own business.
Current unemployment figures are between 9 – 13% and are likely to rise to almost 3 million by 2012. With some 250,000 people choosing part-time work to keep a steady income rather than face no work at all; there has been a huge change in the way we work. Flexible working patterns such as a 4 day week and taking a 20% pay cut have been introduced to avoid dramatic job cuts.
So, although the outlook for the economy is looking grim, now may be the perfect time to use some of that entrepreneurial spirit of yours and go it alone. Business specialist, Doug Richard, who is better known for his stint on Dragon’s Den, claims that new business start-up costs are lower now than in the last 20 years. He highlights that the internet has brought costs down and the increasing power of social media such as Facebook and Twitter to get the message out.
The North West (where one of our offices is), and Manchester in particular, has seen a 14% increase in small businesses starting up in the last year. There are a number of measures in the recent budget designed to promote small ventures and new start-ups, including tax reliefs. The government hope to create 2.5 million jobs in order to cover the loss from the public sector. The cuts made in the public sector may allow room for contractors to step in and take over the critical projects that need finishing.
In the UK, 6% of us now run our own business. If any of you are wanting to join that 6%, whether it be because you want to take home more money, you want to make a permanent career out of contracting or maybe just like the idea of being in control of your own limited company then now may be your chance. As specialist contractor accountants, at ClearSky we are here to help you to go it alone. So, if any of you need some more advice on setting up your own Limited Company; here’s the link to our useful guide “The Survivor’s Guide to Contracting”.
Share this contentTags: BBC, ClearSky, contractors, DOUG RICHARD, uk government