Will the current situation open up more opportunities to become self-employed?

Will the current situation open up more opportunities to become self-employed?

Will the current situation open up more opportunities to become self-employed?

We know the current situation has thrown the business world into turmoil; unemployment will undoubtedly rise steeply over the coming months as the furlough scheme draws to a close. That coupled with the lack of job vacancies will see people consider the possibility of working for themselves. It’s a viable alternative that they may have not considered before. Will the current situation open up more opportunities to become self-employed?
If you have thought about working for yourself in the past but not been brave enough to take the plunge, now might just be the time. Maybe not out of choice but out of necessity. And what a wonderful opportunity that could be. See our previous blog on Starting your own business for help with that.

The world has changed

30-40 years ago, when you left school you got a job and hoped it would be for life if you were lucky. Nowadays, not only do people change jobs more frequently they often have a side hustle going on too. With the world going digital and the unbelievable technology out there, it’s never been easier to start your own business.

Amazing opportunities

These micro businesses might be a hobby or interest that earns you a bit extra cash in addition to your full-time employment. If you have been lucky enough to have been furloughed from your job, now is the perfect opportunity to expand on that business. Who knows how safe your job will be going forward. Could self-employment be the answer?

Taking a risk

But it’s not just an opportunity for those who have been furloughed. Restructuring within your company may mean that redundancy is on the cards. Businesses will think carefully before taking on more staff in the future; job vacancies will be harder to come by. It might just be that you are simple fed up with the bureaucracy and office politics. Whatever it is that prompts you to start a business, there is no doubt, is a risk. It’s not easy but there is help and support out there in abundance. In my opinion, the pros outweigh the cons. I’m certain that we will see a marked increase in people trying to adapt and make the most out of what they can do, rather than leaving their fate in hands of others.
If you need more encouragement to start your own business then check out this article that I had saved back at the start of the year, its title is How to become your own boss in 2020: Inspiring tips and stories from entrepreneurs who created successful businesses from scratch.
I thought at the time it was a great article but even more so now, some 6 months down the line.
After COVID there is bound to be an explosion of the number of new businesses. Now more than ever is the time for budding entrepreneurs. I’m sure going forward that the current situation will open up more opportunities to become self-employed.
If you’re thinking of starting a business and feel you could use some help, please get in touch to see how In Business can help you.
hello@weareinbusiness.co.uk