All of these pressures undoubtedly explain why more and more people are starting their own small businesses. It allows you to choose your own work, your own hours, and it can usually be done from home too.
It’s interesting to know that between 2008 and 2015, 730,000 people went self employed. That’s the largest number since records began, and apparently the reason behind the UK bouncing back from the financial meltdown of 2008.
So why did so many people make the decision to be their own boss? The reasons are mostly due to people proactively deciding to take charge of their own lives and finances.
With job security being a thing of the past, being your own boss means you have control over your own fate. You also have total financial independence, with all the tax perks that go with being self-employed.
And of course, that old entrepreneurial spirit has a lot to do with it. There’s just something about us Brits loving to get out there and do our own thing!
But what about the down sides of running a business? Clearly there are risks, when all the responsibilities are on our own shoulders.
For many, the answer is franchising, which has been enjoying a huge surge is success and popularity for several years. With franchising, you get an established product and all the support you’d expect from a successful brand. And since you work in partnership with a committed business partner, you get the best of both worlds – independence and constant support.
It’s fascinating to discover that of the 44,000 franchises currently operating in the UK, almost a third are owned and run by women – that’s double the number in the other types of business. But what we found really interesting was the number of people working from home – a third of all franchisees.
We think that’s a really heartening little piece of info. To us, it means that more and more people want to balance their lives between work and family. It means people are realising they can break out of the conventional way of doing things and become their own boss, and avoid the risks of completely going it alone, and usually do it all from home!
That’s very much our way of doing things. Home, family and making your own decisions. To all the franchisees out there – we salute you!