There’s no doubting the immense reward of trying and succeeding at starting your own business. From struggling to pay the bills to learning to master the art of being a jack of all trades, the intense highs and desperate lows of fledgling business ownership lessen for no one embarking on this solo endeavour.
We recruit often for small businesses and have some insight as to what drives these entrepreneurs to succeed, along with the resulting candidate perks of being employed into a such a business.
The Statistical Spread of Small Business in the UK
There were a record number of business started in 2016 according to the FSB – coming in at a colossal 5.5million. This is an increase of 2million since 2000 and 97,000 since the start of 2015. That’s 8,000 per month! It’s wonderful to see so many budding entrepreneurs chasing their dreams.
Taking this further, 99.3% of all these private sector businesses were classed as small at the start of 2016, with only 0.7% larger than this.
What is particularly interesting is that 76% of these businesses do not employ anyone apart from the owner. This fits in with the marked increase in individuals working as freelancers as a consequence of the thriving gig economy. However these businesses do turn a profit with a combined annual turnover of £1.8 trillion, 47% of UK private sector turnover.
Benefits of Working for a Small Business
So where might the draw come when choosing to work for a small business? The benefits can be numerous and some tried and tested draws we’ve observed in our agency work include;
- Making a bigger impact and seeing the fruits of your labour right the way through the organisation
- The diversification of your skill set as you take the reigns of activities perhaps not in the original job description – we can testify to this one!
- Being seen more easily and readily by decision makers that have a say in your progression
- The potential for more variety in the day-to-day of your role
- Immense passion as you frequently have contact with the business founder/owner and their company vision
What Makes Small Business Owners Tick?
When it comes to what new business owners enjoy most about their newfound autonomy, a recent survey we covered indicated this to be flexible working – no surprises there!
Whether it’s a flexibility or other incentive, judging by the high number of UK startups it seems being a business owner is a popular choice for individuals working today. If you’re interested in working for a smaller organisation, you can search on our website here.