ACCA highlights popularity of self employment

Date: 23rd September 2009

Millions of UK workers wish to run their own business start-ups, the Association of Chartered Certified Accountants (ACCA) has said.

According to the organisation, three in four 25 to 34-year-olds want to strike out on their own and become their own boss.

Across all employee age groups, six in ten say the same - and 96 per cent believe that smaller businesses are essential to the UK's economy.

Commenting on the ACCA report, Ganesh Selvarajah at government-backed support service Business Link said that rising unemployment rates could help to increase entrepreneur numbers.

Latest official labour market statistics show that the UK jobless total is at a 14-year high of almost 2.5 million.

Mr Selvarajah said: "[People] are looking at self employment as a definite alternative to employment, especially the younger generation who may feel there may never be a career for them as it's traditionally known.

"A lot of start-ups we have seen have come from young people who have been quite imaginative when it comes to launching a product or service for their own generation and they have come up with some interesting business solutions and spotted some good gaps in the market."