Start-up Business Boom Being Experienced in Scotland

paying class 4 national insurance

Over recent years, the UK has seen a boom in start up businesses in many areas, with a rising number of people taking the plunge and starting their own ventures in the face of a difficult and challenging employment market. This has led to a sharp increase in the number of start up businesses around the UK, and the trend is now also being seen in Scotland according to recent reports.

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Start up Businesses Increase Due to Youth Unemployment

Youth Unemployment Leading To Growth In Startups

Over recent years the financial climate and fragile economy has resulted in a wave of employment issues, which includes youth unemployment as well as increased redundancies amongst those who once thought they were in a secure job. The upshot of this situation is that a rising number of people are now considering starting their own business, with some even taking the plunge and giving up on employment in order to become self employed.

There are mixed feelings about the number of people who are now working towards self employment rather than opting for a job with an employer. While some see it as a sign of the changing world of employment others feel that it is just a means of people working with reduced benefits and rewards. Specifically, the TUC states that this new trend means that more and more people are now missing out on the benefits and rewards that employers offer.

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Small Business Start-Ups Booming in Liverpool

Liverpool Startups

Over recent years, the number of small start-up businesses springing up across the country has rocketed. Various government schemes and incentives coupled with increased resources and information have all helped to boost start-up businesses numbers across the UK.

According to recent reports Liverpool in particular seems to be flourishing when it comes to small business creations, with many benefits claimants said to have taken the plunge and launched their own businesses with the help of a government initiative.

Across Merseyside over two thousand former benefits claimants have taken advantage of the government initiative, which is the New Enterprise Allowance. Of these, 860 were in Liverpool, which equated to the highest figure for any local authority in the country. This has put Liverpool at the top of the leagues when it comes to small business start-ups.

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Government Backed Business Tour to Encourage Growth Amongst Start-Ups

UK parliament

Small businesses and start ups across the UK will be receiving support and encouragement to assist their growth thanks to a government backed road show that will take place over the course of this year. The Get Growing! The Great British Business Roadshow will be heading out to close to a dozen cities over the course of this year in a bid to try and both encourage and help smaller businesses to grow.

The initiative has been backed by the Department for Business, Innovation, and Skills, and is being headed up by FreeAgent, which is a leading cloud accounting company that provides services for small businesses and sole traders in the UK. A range of other big name companies are also involved in the road show, which includes Elance and Paypal.

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BBA Claims Banks Willing to Lend to Small Businesses

BBA logo

Over recent years, lending levels amongst banks to small businesses has waned resulting in businesses losing confidence when it comes to getting finance.

The issue has led the government to come up with schemes such as the Funding for Lending Scheme in a bid to get banks lending to small businesses again to help boost the economy.

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Older Entrepreneurs Continue to Set Up Small Businesses

Older entrepreneur

Over the past few years, more and more people have decided to set up their own businesses in the UK for a variety of reasons.

For some it is the lack of job security that has driven them to set up their own business while for others it is situations such as redundancy.

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Banks will need to share data on small business lending

Bank money in case

Over recent years, the supply of funding from banks to small businesses has suffered as a result of the global financial crisis.

The government has taken various steps to try and improve this situation and while there have been some improvements of late thanks to schemes such as the Funding for Lending Scheme, lending levels to small businesses are still being described as subdued.

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FSB Reports Increase in Confidence Amongst Smaller Businesses

FSB logo

Over recent years, confidence levels amongst both consumers and small businesses have taken a knock, driven largely by the difficult financial and economic climate.

However, according to a recent report from the Federation of Small Businesses, there has been a notable increase in optimism and confidence amongst small businesses across the nation.

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Small Businesses in the UK Suffer Consequences of Late Payments

Money trap

Over recent years, many people across the UK have decided to start their own businesses.

This has resulted in a new wave of small businesses that could potentially have a huge positive impact on the country’s economy.

However, for any small business that is still in the throes of growth cash flow can be a big problem and this is an issue that is being made worse by late payments.

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Companies Made Simple Review

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