UK- Resurgent self-employment soars to 75-year high

That includes selling trinkents and services to the higher income foreign tourists and residents. I used to call it Sultan fanning.

It is not a sign of prosperty…

Resurgent self-employment soars to 75-year high

By Richard Tyler

Dec 26 (Telegraph) — Britain is witnessing a renaissance in self-employment on a scale not seen since the 1930s, the latest business figures show.

Barclays estimates that nearly 480,000 new businesses were created over the past year a record and said official statistics revealed that self-employment now stood at the highest level relative to the total working population for 75 years.

The UK is in the middle of a boom for start-ups. Our best guess is that in England and Wales we are up 4pc to 5pc in the year to November and thats on the back of two strong years, said Richard Roberts, small and medium enterprise analyst at Barclays.

He said more people were setting up their own ventures because being self-employed had become more socially accepted.

The enduring nature of the economic downturn was also a factor. Few people will voluntarily risk their savings during short, sharp recessions, Dr Roberts said, with any increase in entrepreneurial activity coming from people shifting from unemployment into self-employment.

As the economy has shown little sign of recovering for the past two years, people were taking the plunge, he said. Most new business owners would have spotted an opportunity to make money, but some will have been made redundant and had no choice.

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