With a fresh year ahead of us, many entrepreneurs are itching to start a business in 2015, and it couldn’t be a better time to do so. The low rate of interest creates an excellent atmosphere for fledgling businesses. Not only are interest rates low at the moment, they are also likely to remain so for a while at least, and economists expect any increases to be gradual. This is great news for young businesses, who often need to borrow to get off the ground.
Energy prices have historically been a burden for fledgling businesses – but fuel is now cheaper than for several years. That’s just another reason why it’s a good time to start your business. It’s a huge relief for entrepreneurs not to be held back by high energy prices as they attempt to make a young enterprise pay.
Though the employment rate seems to be improving, wages still remain low relative to prices. Over the last few years, prices on items such as food and train tickets have gone up but wages haven’t. This means that whilst individuals may find it slightly easier to find work than over the last few years, it just isn’t as well-remunerated as it could be. Self-employment may not lead to instant high income, but low wage growth is another factor pushing talented individuals to think outside the box. If work doesn’t pay so well, why not strike out alone?
It looks like 2015 could be the best time to take the plunge and start a new business!
