Entrepreneurs and self-employed will drive economy

24 - 10 - 2013

Entrepreneurship and self-employment will be the driving force of the future UK economy, according to Lord David Young of Graffham, enterprise adviser to the prime minister.

Speaking at a seminar hosted by the Council of Christians and Jews, Lord Young said that the economy will improve but companies are unlikely to employ as many people as they used to.

The UK will, instead, see entrepreneurs, contractors and freelancers replacing traditional employees.

Lord Young said that 95.5% of businesses operating in the UK currently employ fewer than 10 people.

The seminar, which was focused on ways to reduce youth unemployment, developed into a broader discussion on business and employment in the UK in general.

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