More workers are leaving their current job role to chase an idea for business that has been created by a hobby, according to research from Samsung Electronics UK in association with the CEBR and YouGov.
The research, which surveyed 511 micro-businesses, showed that 12 per cent of UK employees have abandoned their job role to become an entrepreneur and turn their “passions into pay cheques.”
Opportunities need to be created to help young people get into work, according to IPPR. Research from the think tank showed that the number of 16 to 17 year olds working in the summer has halved over the past 20 years.
Over 40 per cent of 16 to 17 year olds were working whilst studying in the late 1990s, compared to just over 20 per cent now, whilst the number of 18 to 24 year olds working in summer jobs has also declined.
London’s startups received more funding this year than in any other European city, according to figures from Statista.
The research, which used figures from EY’s Startup Barometer Germany report, showed that startups in the city raised €1.3 billion (£1.1 billion) in the first six months of this year, up from €1 billion in the first half of 2015.
The Independent has published the latest listing of jobs with bonuses of over £20,000 per year using data collected in an anonymous survey by Glassdoor.
Roles in the finance industry hold several places on the list, including portfolio managers, brokers and traders. Top of the list, however, were global account managers who receive an average annual bonus of £37,000.
Retailer HSN has announced a plan to discover entrepreneurs. People with innovative product ideas will have the chance to describe their product – and their vision – to a panel of influential judges, including angel investor Randi Zuckerberg.
The “American Dreams Inventor Search” event will be held at the XFINITY Store at Palo Alto in California. It will feature budding entrepreneurs pitching their ideas to Zuckerberg as well as HSN New Business Development Vice President Dara Trujillo.
Recent research indicates that numerical skills are not the only requirements needed to succeed in the financial industry.
In a survey conducted by the Institute of Chartered Accountants in England and Wales (ICAEW), it was reported that future financial officers must develop both interpersonal and technical skills in order to compete. The survey compiled results from over 500 financial and business executives.
President and Chief Executive Officer of Ford Motor Company, Mark Fields, has announced that the company are currently working to develop driverless cars.
Fields stated that driverless cars would have “as significant an impact on society as Ford’s moving assembly line did 100 years ago.” The announcement was made in the Silicon Valley area of California.
HM Revenue and Customs (HMRC) has announced that its pay-as-you-go tax system for landlords and sole traders will be up and running from April 2018, in what could be an innovative development for tax payers.
The plan is to allow businesses to employ a digital tax account in order to estimate their liabilities and make a payment. This will make it easy for HMRC to allocate the funds directly from their accounts when their taxes are due.
Despite the dire warnings of economic downturn that followed Brexit, the UK mining industry appears to be growing, according to recent data.
The value of seven UK mining companies has doubled since the end of 2015. One company, Anglo American, illustrates the turnaround well. Last year Anglo American was on the verge of dropping off the FTSE 100, but the “dramatic turnaround in the industry” in recent months has seen the diversified mining group recover significantly.
The Irish Government has announced a new search to find Ireland’s Best Young Entrepreneur (IBYE) and is inviting applicants to put their name forward before the October deadline.
The scheme was launched by Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor and is backed by a €2 million investment fund. The initiative is being run by the Department of Jobs, Enterprise and Innovation and Enterprise Ireland and is being coordinated by 31 Local Enterprise Offices all around the nation.
The Royal Bank of Scotland (RBS) is collaborating with the Institute of Chartered Accountants of Scotland (ICAS) to help small businesses in Scotland grow.
RBS staff will be working with members of ICAS to improve the services that both the bank and the accountants provide to SMEs in the country, and the staff will be working closely with the Practice Community of the ICAS.
A leading business in Darwen, Lancashire, has benefitted tremendously by offering apprenticeships. The young adults who joined the company as apprentices were successful in manufacturing major components for a research space rocket that is set to launch in the next few months.
The space rocket is being manufactured by Starchaser Industries. In 2011, Starchaser had the distinction of launching the biggest rocket in the country.
Gender diversity is fast becoming a business priority in the UK, with large businesses taking measures to recruit and nurture more female employees in senior positions.
Armstrong Craven, a talent mapping and pipelining company that operates globally, has stated that recent research conducted by a UK university shows that less than 6 per cent of women have made it to the top post of executive director. The company also points out that the research found that just 5.6 per cent of executive directors in FTSE250 companies are female. Armstrong Craven believes that these figures indicate that organisations and businesses still need to work harder to ensure that more women occupy senior and top positions.
A recent survey has found that four out of five higher education institutions in the UK that offer transnational education are looking to expand their operations in the next three years. These are institutions that offer joint programmes, online programmes, have international branch campuses, and also offer dual-degree programmes.
The survey conducted by HE Global, which is a collaboration between the International Unit and the British Council, has found that several universities have made transnational education a part of their international or overall strategy with the aim of attracting more students. Also, this strategy comes as these universities see an increase in their income and also garner more of a name for themselves overseas.