Are You Ready To Be An Entrepreneur?

The number of entrepreneurs and small business owners in the economy is growing as many jobs created in recent years have come from the sector. New entrepreneurs, women and the over 60s account for some of the increase as flexibility and the ability to earn extra income is attractive and often necessary.


Entrepreneurs, small business owners and the self-employed, when added together, now account for an increasing number of jobs in the economy.

The trend is growing, as is their importance and impact, even though political, economic and social structures still reflect a world dominated by large, not small, business.

Many government departments and policy makers still mistakenly assume that the majority of people work in large organisations.

But they are slowly realising the number of people making their living as entrepreneurs and small business owners is rising as technology changes lifestyles and disrupts work patterns.

Many entrepreneurs and small businesses will thrive, as havens of employment while others will disappear over time as competition becomes too intense and triggers their demise.

A relatively small number of small businesses grow into big businesses that employ hundreds or even thousands of people but they are the starts, the exemplars and, unfortunately, the exceptions.

Governments, of course, always hope that all small businesses will grow into large businesses but a greater appreciation of the fact that the majority of businesses are small and will remain so is required.

When the role of the entrepreneur and the small business owner is recognised for their contribution to local communities, the wider economy, and job creation, governments will change their approach and put more meaningful supports and structures in place.


Economists too must appreciate that fewer people work in traditional full-time jobs, as the majority are now self-employed, part-time employed, unemployed, in education, in training, inactive, or working in the grey or black economy.

And when economists accept today’s reality they will have to revise their models of how the economy works to reflect the impact of the entrepreneur, the small business owner and the self-employed.

Work for many people in today’s economy is about being an entrepreneur and finding customers that lead to the creation of a job, rather than work for an employer who provides a job.

The increase in the number of people choosing to become entrepreneurs and small business owners is driven by a desire for greater freedom and security and by the loss of traditionally secure jobs in many sectors.

In the future, greater numbers of people will be entrepreneurs, self-employed and small business owners, as advances in technology and changes in work practices create fewer opportunities.

SO, the nature of employment is changing, as more people become entrepreneurs and small business owners for reasons that are wonderful and worrisome in equal measure.