Most entrepreneurs expect to increase number of employees in 2010
New research has revealed the important role Britain’s leading entrepreneurs will play in helping to offset the inevitable job losses which will take place in the public sector over the next few years.
The research, carried out by Investec, shows that two thirds (67%) of the UK's most successful entrepreneurs expect to increase the number of people they employ during 2010, with only 8% expecting to make job cuts.
However, Investec warns that the new coalition government will need to provide an attractive environment for entrepreneurs, so that they feel encouraged to grow their businesses. At the moment, only 3% say that the overall regulatory and tax environment in the UK make it very attractive to launch a new business here.
This may help explain why, at the beginning of this year, 10% of entrepreneurs said that they intend to shift their UK businesses to other countries with more favourable business environments, and a further 17% are considering doing this.
The bank's research reveals that at the beginning of 2010, 14% of successful entrepreneurs expected to increase their workforce by over 20% during the course of the year. A further 14% said that their workforce would increase by between 16% and 20%. In contrast to this, only 1% of those interviewed said that it would fall by 10% or more.
Stelios - "Britain is still one of the most entrepreneurial countries in the world"
Speaking at the Investec Entrepreneurs’ Summit, Sir Stelios Haji-loannou, founder of easyGroup and the Stelios Philanthropic Foundation said: “Second perhaps only to the US, Britain is still one of the most entrepreneurial countries in the world. Can you imagine me, born in Greece, trying to start easyJet in France in 1995? I would have had no chance of success.
"The UK society and economy, especially in London, is more inclusive and tolerant than any other country in Europe. One way of encouraging start-ups is to de-stigmatise honest business failure here.”
Posted May 21, 2010
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