This week, Axis for Business explores the news that the UK small business sector is responsible for 1.9 million new jobs in 2014 and what this means for the sector going forward.
Axis for Business Aims to bring you the Small Business News You Need to Know
In our role as a supplier of low cost energy and telecoms, Axis for Business aims to provide our customers with a first rate quality service. That’s why on this blog, we bring you the latest news that you need to know as a small business owner.
Which is why this week, we had to bring to your attention an article that recently featured on SME Web. The article suggested that in 2014, the small business sector will be responsible for the creation of a millions of jobs throughout the UK.
A New Survey by Direct Line for Business
According to new research conducted by Direct Line for Business, small and micro firms in the UK are planning to hire 1.9 million extra staff by the end of this year. This research also found that 400,000 home-based operations are looking to hire their first ever employee.
Furthermore, the research revealed that employees joining small and micro companies in 2014 are slated to work on average, a 28 hour week, whilst those joining a home-based company as their first member of staff, should expect to work a 21 hour week. Meanwhile, the study also discovered that average wages for the former will be £14,405 per year, whilst average wages for the latter will start at £10,795 per year.
What Does This Mean for You as A Small Business Owner?
So what does this mean for you as a small business owner? Essentially, not only will it benefit the national economy, but it will inject £27 billion worth of wages into that economy, generating significant capital for the UK going forward.
That capital will generate opportunities for you to grow as a business, which will boost your bottom line. The fact that it’s small businesses driving this growth, also shows Axis for Business the strength of small business market right now. This strength should continue to provide benefits for your profit margins as we enter the second half of this decade.