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.
According to reports the level of youth unemployment in Britain has led to an increased number of graduates opting for self employment rather than hunting for work. This is something that has become something of a trend since 2009, when the country was in financial turmoil and graduates had to cope with increasingly stiff competition in terms of getting employment.
The number of start up businesses that have sprung up over the past couple of years has been increasing, partly due to the level of youth unemployment and also partly due to the number of redundancies amongst those who thought they were in a secure job. This has led to a rising number of people deciding to take the plunge and start their own ventures despite the risks involved.
The author of the report, CIPD’s research adviser, Claire McCartney, said that part of the reason behind this rising trend is that younger people want to be more in control of their futures. She stated: “You could say that’s because of the crisis and that they didn’t have other options, but one way to see it is that many young people have become disillusioned … and want to take things into their own hands and be in control.”
The rise in youth unemployment has also led to an increased interest in the Young Enterprise programme that is run in universities, with more young people signing up for this type of programme.