More Brits 'establishing new businesses'

Date: 03/06/2011

Increasing numbers of Brits may be looking to purchase non-geographic numbers that give them a national presence as they establish their own company.

Jon Norris, editor of Freelance Advisor, said the increasing number of redundancies in the UK means more and more people are becoming entrepreneurs.

This is leading to increased levels of competition within the sector, which the expert believes has both positive and negative consequences.

He noted that although establishing a business is not for everyone, many people prefer it to "regular" employment and get to see the fruits of their labour.

Mr Norris continued by saying "it's definitely more rewarding [to run your own business] and obviously you're in control of your own destiny and all the problems you have to deal with".

Entrepreneurs could find they have better access to finance in future, as director-general at the British Chambers of Commerce David Frost recently encouraged banks to up their lending to enterprises.