Tag Archive | "Wales"

New Figures Suggest 176,000 Self Employed People in Wales

Wales is quickly becoming the UK hub of self employment, with 176,000 now working for themselves. That is 32% of new jobs in the country.

Many of these people are no doubt contractors, freelancers, and gig workers, while others have taken the route of starting a small business in order to make their own income.

Take Tom Maunder for example, a car body repairer from Wales who had been made redundant 3 times. After getting his P45 for a third time he decided enough was enough, and instead of looking for another job went the self employment route instead.

Actually, he ended up buying the small company from where he had been given his walking papers before, thanks to a loan from his parents and a bit of savings.

This is the type of entrepreneurship I like to see among workers in the UK. Many people in Tom’s position could have simply given up and spent the next few years signing on down the local job centre, and this is what many people do.

However, Tom decided that if employers were not prepared to give him a chance then he might as well make his own opportunities, and that is why he has gone on to be a success, with help from his family along the way.

It just goes to show that self employment in Wales is still going strong, and as long as there are people like the Maunder family then I don’t think anything is going to change soon.

Around 1 in 5 new jobs in Wales are to do with self employment, whether it be contractors, freelance professionals, or small business owners, and it wouldn’t surprise me at all if in 10 years time this figure is 2 in 5 jobs…or even 50% of all new jobs.

The new figures do show that the area in Wales does matter when it comes to self employment, with towns that have historically been involved with industry having the lowest rate of people working for themselves, while areas that are more known for farming have the most.

In Powys it is said that 1 in 3 people are self employed farmers. Also, many of these rural communities in Wales have other businesses such as cafes, restaurants, and hotels, where the self employed do a great trade year after year.

Away from the town and villages we have the cities of Cardiff and Swansea, which are quickly making a name for themselves as the place to be in the UK if you want to work in freelance industries.

The cost of living in these cities in Wales is significantly lower than places like London and Birmingham, which means many gig workers are thinking about relocating to Wales.

So self employment in Wales is looking good, and things are only going to get better if you ask me.

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Welsh government offering more than £30m in new funding

Look alive, you magical people living and working in Cymru: more than £30 million in business funding is going to be handed out by the Welsh government.

The plan is, according to new reports, to encourage jobs growth across the length and breadth of Wales by offering small businesses the funding they need to grow their businesses. The hope is that this will enable Welsh firms to expand and take on new employees, both he permanent kind and those who work on a per-project basis such as a freelancer or an umbrella company contractor.

Edwina Hart, business minister for the Welsh government, says that the new move is the second part of the Economic Growth Fund, a measure instituted to support and reinforce business growth in Wales. Ms Hart says that the massive finance packet will not just act as an economic stimulus by providing the money local businesses need to update equipment and pursue newer and more loftier goals but also provides proof positive that the Welsh government is committed to doing whatever it can to help jumpstart business growth.

The initial release of the money will see smaller scale companies gain access to the money, especially those looking for funding of anywhere from a minimum of £50,000 and up to a maximum of £100,000. Later on this year, the programme is scheduled to be opened up to larger companies in need of more than £100,000 to encourage growth.

Honestly I think it’s an absolutely smashing plan and I hope it does wonderfully. More businesses with the funds they need to get things done means more demand for umbrella workers and freelancers, which is good for the recruitment industry, and who knows – perhaps this trend will spread through the entire UK and not just stop at the Welsh border.

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