More People Are Looking To Be Their Own Boss
16th January 2018.
Despite Brexit uncertainty reportedly making people more financially cautious, new research has found an increase in British entrepreneurs. More people than ever are looking to start their own business, which is the exact revival tactic this economy needs. The Credit Protection Association always encourages innovation, and we acknowledge that traditional business concepts are being transformed by tech start-ups and online businesses. However, we do insist any of our Members or potential members, who want to start a new business, consider the risks. Going it alone isn’t easy, so please get our advice before you begin financing your dream.
According to a poll carried out by Edinburgh-based cloud accounting software provider FreeAgent, 9 percent of workers plan to go it alone within the next year.
A further 28 percent said they would like to start their own business at some point, but don’t yet have any concrete plans to do so.
The survey found that the top three reasons for wanting to become self-employed were better work/life balance, a desire to work fewer hours and the belief that you can earn more money as your own boss.
The top three concerns around setting up a business were the financial costs involved, managing company finances and complying with business regulations.
Marginally more women than men plan to start their own business in 2018, with 52 percent of women dreaming of becoming their own boss in comparison to 46 percent of their male counterparts.
Becoming your own boss is an exciting prospect. You can dictate your own hours, your own staff, and your own pay. It is nonetheless important that you consider all the harsh realities of financing your dream, including obtaining and managing credit. Here at the Credit Protection Association, we offer a range of credit management products such as credit checks and credit ratings, which will be vital to you as you start your new business. Also, once you become a member with us you will have access to our other services, such as debt recovery, which will help keep any late payers at bay. Becoming a business owner is certainly a rewarding and inspiring venture, but it’s important to have a helpful mix of positive thinking, self-delusion and level-headedness when going into it. Get in touch with CPA now for more information!
The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!
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