In a recent BBC report, official unemployment figures have shown a fall of 51,000 in the three months to April 2012. This will be encouraging news to many that are still struggling to find work in an economy that is still battling to keep its head above water.
Many people have been looking to starting their own business after experiencing a job market which averages 23 applicants for every job available. With this kind of competition its no surprise that many are frustrated and are considering other avenues such as self employment and starting their own business. But starting you own business from scratch in difficult economic conditions can be quite a challenge.
Franchising might provide some hope for those stuck in the unemployment trap and looking for a way out. At the launch of Big Society Capital in April 2012, the PM, David Cameron, commended the work of FranchisingWorks, an innovative social enterprise that tackles unemployment by helping create new businesses and jobs through franchising. This kind of acknowledgement from the figureheads in the government along initiates such as the recently announced young peoples business start up loan scheme and with the governments commitment to supporting franchising as a route back into work, is great news for franchising as a whole.
If you would like to know more about starting a franchise, read our 10 Franchise Tips series and then begin by researching from over 100 franchises we currently have a available from our franchise directory.
In recent news from the BBC, the government have announced a loan scheme for 18-24 year olds aimed at helping them start a business. The £82m loan scheme will provide a loan of what is thought to be around £2,500 for those eligible for the scheme.
In a time of the highest unemployment among this age bracket in 17 years, the government are hoping this will provide a boost to the economy of some 30,000 new startup businesses providing much needed work for many who are currently out of work.
For many of those young people, a franchise could provide a great way to invest the loan in order to provide them with a proven business model to build their own business. With successive bfa/NatWest national franchise surveys consistently reporting that around 90% of franchisees trade profitably each year, investing the money into starting a franchise makes perfect sense. Of course, there is a level of risk involved when you start any business venture, but franchising has proven to be a great way to start a business for tens of thousands of aspiring business people in the UK.
Starting a business demands a high level of commitment and determination to succeed, but if you have those qualities, there are almost limitless possiblities. With almost one thousand different franchise systems in the UK, it’s highly likely you will find at least one franchise business that suits you and that you can see yourself doing.
If you are ready to begin your search and find the right franchise for you, using a franchise matching service can be one of the best ways to find a short list of franchises that suit your budget, location and preferences. Alternatively, you can start by browsing one of the online franchise directories to see what might spark your interest.
An article from the BBC this morning indicated that UK employment is continuing to struggle with the unemployment rate for the last quarter of 2011 reaching 8.4%. According to the Office for National Statistics, this is the highest level of unemployment for 16 years.
Despite the news, many people are choosing to take control of their futures by opting for self-employment either by themselves or by using a proven business formula such as that found through franchising.
Buying a franchise business is, in effect, starting your own business but benefiting from a business idea that has already been tried, tested and proven. There are hundreds of different franchise business opportunities available in the UK so no matter what your industry preference, its likely you will find a franchise that will suit your location, investment budget and that you could see yourself doing.
Other benefits of choosing franchise based self-employment over the conventional self-employed route, can be initial training on how to run your franchise business successfully, on going support from the franchisor and perceived customer impression of branding and being a member of a national network.
To find out more about starting a franchise business, start by browsing our franchise directory or use our two minute matching service to quick view a list of options that suit your investment, location and preference.