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If you only watched the news, you’d be forgiven for thinking that all is doom and gloom.
Yet there’s so much to be upbeat about. Employment in Q4 last year was up by over 241,000 from this time in 2009. And Yoodoo’s Green Shoots of Recovery Report; using accurate Companies House data, tells us that not only are more people than ever setting up shop (or delivering a service or inventing something new), but more of them are succeeding, too.
Our research shows that these small businesses are also surviving in greater numbers than before. So-called tough times are in fact ideal times to start a new business. Competitors with big budgets are suffering and cutting back. Prices are forced down, and that means cheaper premises and raw materials. And living in cost-conscious times rightly forces owners of new small businesses to focus on the pennies- a very wise discipline.
If all that has got you excited about running your own business, you’re not alone. Over 17m people – well over half of the UK’s active workforce – would like the freedom of starting up for themselves.
There’s never been a better time to start a small business. It will be hard work and there will be long hours- but you’ll be the master of your own destiny, you’ll find it an enormously fun and satisfying experience, and you might even get alarmingly rich.