2.6 million people to go self-employed in 2019

There is set to be increased competition amongst self-employed businesses in the year ahead according to the latest research.

A study carried out by accountancy software providers, Free Agent has found that 8% of the working population intend to start their own business in 2019. Considering that the number of individuals of working age in the UK stands at 32 million, that could mean a whopping 2.6 million people are looking at going it alone in the year ahead.

Furthermore, the study highlighted that an even bigger number (15%) said they wanted to work for themselves in the next few years, while over a quarter said they would like to start their own business at some point in the future.

That could mean a more crowded market place for those in the fitness industry, pet care industry and therapy world amongst others.

The major draw according to the study came down to three stand-out points for the respondents of the survey:

• 46% said they wanted a better work/life balance
• 44% wanted to choose the type of work they do
• 35% suggested that by working for themselves they can attain a greater sense of achievement

There was however, one major concern amongst the budding entrepreneurs of of this country, and that is the uncertainty surrounding the UK’s exit from the European Union.

Northern Ireland led the way as the home of the most forthcoming of those looking to start their own business, with 18% asked in Free Agent’s survey stating that they intend to become self-employed in the year ahead.

That was closely followed by London (13%) and the West Midlands (10%) as hotbeds for start-up ambition.

In regards to the type of business people were looking to start up, a study by Protectivity found that becoming a photographer, architect or graphic designer were among some of the most desirable career choices for those looking to go it alone.

For finances though, becoming a software developer, business consultant and yoga teacher were three of the most attractive career options from a salary point of view.

One increasingly popular career choice that we have seen growth in recently is that of a professional dog walker. And if working with canines is a career that appeals, it’s worth noting just whether there is a call for the service in your area.

Protectivity found that Peterborough, Stroud and Harrogate topped the list in terms of best places to become a dog walker. As with any new career it is vital that individuals do their research to best judge the local demand and competitiveness before launching a self-employed career.

There are many struggles along the way when going it alone, but according to the latest study, those challenges are something that many are more than happy to take on.