Working for yourself
Self employment is a popular choice for many young people. It means having your own company or franchise or working as a contractor to another company. Franchise means you pay to run a business on behalf of a big company, for example, McDonalds, Body Shop, Thornton's.
In the UK around 3 million people are self-employed. The South West ranks second for the proportion of working people who are self employed. 14.4% of working people in the area are self employed. The average across the whole country is 13.3%*.
Some people will learn a trade or get experience in paid employment before setting out on their own. Others may have a great idea or the immediate skills to get them underway straight away.
It's a big decision and needs careful thought and planning. Self employed people often work more hours, have fewer holidays and take more financial risks. It can be hard work but very rewarding.
There are organisations like The Prince's Trust and Shell LiveWIRE that give advice and support to young people about starting up a business.
*Employment Characteristics within Industry Sectors, SLIM 2006 based on APS 2006
Posted on 01 October 2009
