Self Employed Entrepreneurs Survey

At iHubbub we like to keep our eye on the latest figures that may interest our self employed entrepreneurs, and today we bring you details of a government report into single person enterprises.

The annual Small Business Survey published at the end of May shows that starting up a home based business or small business is more popular than ever, and businesses with no employees (ie owned and run by one person) now account for 18 per cent of all UK private sector employment. 

The 2012 figures published on behalf of the Department for BusiSelf Employed Entrepreneurs Surveyness, Innovation and Skills, calculate there are 4.8 million businesses in the UK private sector, an increase of almost 200,000 on 2011.

70% of these single person enterprises operate solely from the owner's home, with the highest proportion of businesses with no employees in the construction, transport and storage, education and health sectors.

61% were headed by a man and 6% were social enterprises.

Prior to starting a new business, 52% had been working for another business, and 7% had been unemployed.

The main motives given for starting up a new business included the desire for greater independence, following a passion, or the inability to find a job matching the respondent's skills.

Asked what would have made starting up a small home based business easier, a third cited access to bank finance, and 20% would have liked more advice on the legal and statutory aspects.

Do these figures surprise you? What was it that motivated you to set up your own home business?

What advice would you give anyone thinking of starting up a new business today?

Also check out our Home Business Advice for when you want to know how to start up your business ideas