Number of people setting up small businesses grows over past year

A boom in entrepreneurial spirit over the last year has been recognised in new research as the number of people setting up their own business has grown by 24 per cent.

In the study by Freelancer.co.uk which surveyed over 300,000 businesses, the growth can be seen across the country as people in the North are now just as willing to start a business as those in the South.

Brighton and Newcastle were found to have enjoyed the highest growth at 24 per cent, with Manchester and Southampton being close behind them at 23 per cent. Sheffield recorded the lowest growth at 8 per cent.

Despite supporting data that the UK is moving out of the recession, the study also shows that more and more people are looking for extra work as the value of wages fall.

An increase of up to 73 per cent can be seen in the amount of people who are now taking up short-term jobs to earn extra money.

European director of Freelancer.co.uk, Bill Little, says, “This study shows that a clear picture is emerging. Starting a micro-business is easier than ever and is less risky with small start-up costs. Many of the people in this study set up businesses alongside their own jobs hiring in freelancers for short projects to help get the business off the ground before leaving their job to run that business full time.

“The jobs that businesses are outsourcing are essential to setting up and growing a business, so it is not surprising that so many of these jobs are growing so quickly. It provides extra evidence that there is an entrepreneurial microbusiness boom happening across the UK.”

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