The rate of UK company registration is increasing as more people opt to work for themselves rather than continue to be unemployed.
UK company registration is still on the increase as more and more people take their future into their own hands. People have increasingly seen what would have been secure jobs, in the past, turn out to be far from it.
The last round of public service cuts has left thousands of civil servants and public workers without jobs. Surprising a large number of them have decided to give self-employment a try. Finding another job has been difficult for many, with either their age or lack of relevant experience going against them.
Since the beginning of 2011, 419,000 new jobs have been created within the UK. However, the vast majority of them have been jobs created by people setting up their own company. In fact, a staggering 55.6% of those new jobs are down to people registering themselves either as sole traders or as new companies. The remaining 44.4% breaks down into 18.6% part-time jobs, 9.8% full-time jobs. The remaining 9.5% are jobs that have been created with government subsidies or are unpaid jobs.
Why UK company registration has increased so drastically
There are several reasons for this remarkably steep increase in the registration of new companies. People are far more well informed than they once were. The internet has made it extremely easy for people to find out how to get started in business. The fact that forming a company in the UK costs so little also helps. Add to this the fact that finding a job is so difficult, and you have the perfect storm when it comes to self-employment. People reason that by becoming self-employed they are not taking a risk rather creating an opportunity for themselves. Many hedge their bets by still looking for work whilst they build up their own company.
The actual registration process is not complicated. This is especially the case for those who choose to use firms like The Formation Company to register their company. They use their connections and experience means to set up Ltd companies for people quickly and cheaply.
The Formations Company
First Floor 15 Britannia Building
12 Ebenezer Street
Zip: N1 7RP
Tel: 0845 880 8180
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