The Daily Telegraph examines a recent report filed by Barclys Bank in the UK that reflects what they are calling a resiliency in the economy, particularly among entrepreneurs and small businesses. In light of a tough job market, more individuals have been forced to generate employment on their own, enabled by the connectivity offered by the internet. (One suspects that a similar pattern is emerging in the US and abroad).
The Barclays team points to a variety of reasons behind the continuing upsurge ranging from a switch to self-employment by people losing their jobs to a “broader acceptance of entrepreneurship”. “Being an entrepreneur for a lot of people has become more normal. It is an option. It is not seen as an exceptional thing.”
Unsurprisingly perhaps, this trend in the way people are working has been accompanied by an increasing closure in traditional business models that are less able to adapt to changing economic conditions and innovate in the face of a shift in consumer demands.
In light of the wider movement that is fueling a remade economy, it becomes increasingly important to update existing policies to reflect this reality and foster continued growth from a marketplace comprised of start-ups and entrepreneurs.
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