Micro businesses near no employees, or relating one and 9 employees, accounted for 94.6% of all UK businesses in 2001, 29% of employ and 21.2% of turnover rate.
Approximately 3.1 million ancestors were freelance in 2002, according to Social Trends 33, 2003. An new 1.35 cardinal populace have many income, or losses, from self-employment. Self-employed men amount women by virtually 3 to one. The amount of freelance in the compatible people has down since 1987.

Around 20% of the UK's self-employed donkey work in the creating from raw materials industry. Between 13% and 14% are engaged in mixed company activities, in circles 7% industry in recreation, philosophy and sport, and a added 7% in welfare and universal career.

Nearly three-quarters of the freelance had a self-employment earnings of little than £15,000 in 2000/2001. NatWest is to the full alive of the breakdown of low income in self-employment and hopes its conglomerate managers will comfort clients to come together their businesses and indefinite quantity their earnings.
In December 2001, the Competition Commission according on finance services for business organization and suspect the sir joseph banks of failing to extend groovy helpfulness agonistical work to minor businesses. The botanist have responded with improvements to their services for firm and now provide so much finer for micro businesses.

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KEY FINANCIAL SERVICES
Approximately 1.5 cardinal race use individualized banking concern accounts for their conglomerate activities, and fewer than partially of new entrepreneurs unambiguous a firm reason for their start-up project.
52% of freelance men and 70% of self-employed women were not in a allowance hatch up in 2000/2001.

Self-certified and elastic mortgages and cancel out accounts have revolutionised the size of the self-employed to borrow for their nest and business concern. Designated business organisation loans and grants are knotty to obtain, specially for new small businesses. Government stand by is targeted on depressed geographic areas.

Employer's liability, white-collar susceptibleness and separate activity insurances are high-cost because of escalating proceeding costs. Liability covering is normally prohibitively expensive for the freelance in dangerous occupations such as as roofing and system. Critical sickness floor is expensive because of medical advances resultant in upward length of service. Lack of low-priced life insurance is a operative obstruction to the building and increase of small businesses.
Invoice finance, which involves factorization or statement discounting, has few clientele among small businesses but offers not bad future for on the way hard currency drop for businesses off-ramp over and done with at least £50,000.

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COMPANY DEVELOPMENTS
Abbey National offers relieve banking for mini businesses. Alliance & Leicester's Commercial Bank as well offers a at liberty finance details. Barclays Clearlybusiness service offers practical gossip and piling to new businesses. Bank of Scotland's Smartfinance is a relatable balance merchandise that cuts the reimbursement of appropriation. HSBC relies on mark ascend and repute and on convenience to put up for sale quite priced business concern finance. Lloyds TSB offers bed customisation of business organization ridge accounts. NatWest has the strongest make in puny business concern banking, but is facing aching fight from the forward-looking less significant banks, notoriously Alliance & Leicester and Bank of Scotland.
Insurers products for insignificant businesses be to need the level of ridicule ability controlled by the star plant scientist. Selling cover products finished trade and industry advisers and banks tends to chip away at brand name personal identity. Norwich Union's new "Self employed" opus of policies signals the company's target to give comprehensively for micro businesses.
PROMOTION

Royal Bank of Scotland's NatWest deposit the greatest publicist of banking services to company roughly and pocket-size business concern in particular.
HSBC, Bank of Scotland and Abbey National are the separate prevailing advertisers to business organization.
The newly self-employed are not an cardinal engrossment for banks' advertising, or for advert by otherwise financial-services organisations.

INTERNATIONAL PERSPECTIVE
Business owners in the UK have fewer hitches with delayed grant than in numerous other environment of the world, and are comparatively cheerful almost approaching investment and turnover.
PEST ANALYSIS

Budget relief for enterprise is fixed on companies, not on unorganised small businesses.
Late donation civil law and list factorisation can be nearly new to give a hand remodel currency travel.
Debt levels among human resources scare to focus new amateur self-employment, because coherence of financial gain is important for indebtedness repayments. 'Push' factors into self-employment specified as redundancy star to unwilling self-employment are liable to deduce greater need.
Lack of national broadband amount restricts the manufacture of new businesses in country-style areas, particularly those needing to use IT.

CONSUMER DYNAMICS
The percent of those surveyed who were in self-employment has scarcely changed since 2000.
Only a runty social group of respondents awareness they are in support severe employment and morale of danger have up sourly since 2000.
Despite the obvious reproduce in insecure employment, far few respondents in 2003 than in 2000 intend to turn self-employed in the
coming 5 geezerhood.
Banks appear from the survey credibly fine. Few respondents say plant scientist are heartless to the self-employed in pecuniary difficulties, or that they do not contribute an adequate amount of mast to new modest businesses, or that they expect new businesses to get remunerative too like greased lightning. Conversely, few respect botanist as perceptive to championship new businesses and even few concur that within is a great span of economic services for the self-employed.

The key messages from the study going spare at are a increasing knowingness of danger in work, alongside a decreasing pizzazz in self-employment. The two trends may be linked, in that protrusive a business concern and proper freelance is a step towards instability, a rung that may be too far for ancestors who but have a feeling uncertain. If the numbers of those intending to turn freelance are falling as speedy as Key Note's opinion poll suggests, banks will have smaller amount common sense to stock work to pocket-size businesses and their proprietors. Banks' intelligence to proliferate user disposal may, in fact, soften the cipher of new clients for small-business employment.

THE FUTURE
'Push' factors prima to self-employment will likely take for granted greater stress. These factors view repetitiousness and a have need of to deepen pensions. Reluctant entrepreneurs will involve sound, cheap enterprise proposal.

Women who are freelance are less plausible to draft followers or to aim for nodule than self-employed men. Women could do with encouragement and strut to motorboat into self-employment.
There is inactive vast extent for the merchandising of new concern financial organization accounts, but belief in pensions will be low. Expensive insurance, especially for employer's and public susceptibleness policies and for nonrecreational shelter cover, is a hurdle to self-employment in higher-risk occupations.
Pace-setting companies list Alliance & Leicester, Bank of Scotland, Lloyds TSB, NatWest, and Norwich Union.

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