Small business boom in line to create 1.9m new jobs this year
THE UK’s small and micro businesses are responding to the growing economy and are set to create 1.9m new jobs this year, each paying on average £14,405. The jobs could potentially add £27bn to the UK economy in small business wages.
Figures from insurer Direct Line also show that 400,000 home-based businesses are taking on an employee for the first-time this year, with London and the south-west the most proactive when it comes to recruiting new people.
Jasvinder Gakhal, head of Direct Line for business said: “Small businesses are the lifeblood of our economy, employing millions of people, and our research shows that they are set to contribute significantly this year.” Gakhal added that signs of positive economy growth are behind the trend.
More two-fifths of small business in London plan to take on new staff this year, the report suggests.