The record number of new businesses started in 2020 are set to create thousands of jobs in the coming years, with one in four new IT consultancy owners planning to hire one or more employees, new research has found.
A quarter of entrepreneurs who started an IT consultancy during the pandemic – around 2,200 (2,266) – said they will be hiring one or more employees as their business grows in the coming months and years, creating an influx of new employment opportunities.
Although many lockdown-born businesses were created out of necessity following pandemic hardships such as furlough and redundancies, research from The Boom or Bust: Beginning a Business in a Pandemic report published by The Accountancy Partnership indicates that the majority of entrepreneurs have long-term growth plans for their businesses.
ONS data shows that the UK’s small and medium-sized businesses created three times more jobs than businesses with more than 250 employees in the years from 2013 to 2017.
