Why it makes sense to set up your own small business

Findings from the Federation of Small Businesses have shown how important small firms are to the UK’s economic recovery, with 88% of unemployed people who find jobs in the private sector either starting up their own enterprise or working for an SME.

Data since the onset of the recession in 2008 shows that 24% worked in a micro businesses, 27 per cent with a small firm and 17 per cent started their own business.

John Walker, National Chairman, Federation of Small Businesses, said: “The numbers speak for themselves – small firms are responsible for creating the majority of jobs and are more likely to take on people out of work, including those that have been out of work for some time.”