Recession could see new businesses emerging
Fri, 10 Jul 2009
An increase in redundancies could lead to the emergence of many new companies in the UK, it has been suggested.
Research conducted by uSwitchforBusiness.com indicates that nearly one third of workers would start their own business if they lost their job in the near future.
The firm says this figure could be even higher, given that the idea of running their own company appeals to almost eight in ten people.
Just one in ten people said they had never harboured a desire to work for themselves, with the need to keep their regular wage and a lack of confidence in their abilities eventually dissuading many others from pursuing this course.
More than four in ten people said the opportunity to do something they enjoy and get paid for it was the main attraction in starting a company, while a fifth said the challenge would be their primary motivator.
Jake Ridge, small business expert at uSwitchforBusiness.com, said being made redundant can act as a catalyst, pushing people to make life changes they may have previously only dreamed about.
"As well as impetus, redundancy can provide the cash needed to finance a start-up and 67 per cent of people would be prepared to invest some or all of this into their dream business," he noted.
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