the business ladder

The “2020 Vision – the Future of Business” report by Bibby Financial Services has predicted a “seismic shift” as entrepreneurs and the self-employed take over the business world and the number of UK start-ups will rise by 20% over the next decade.

The report highlighted trends such as diminished reliance on physical workplaces as virtual offices become more prevalent, as well as larger businesses struggling to absorb the 5 million new workers expected by 2020.

Instead, more people will choose to set up their own business, often operating outside of traditional trading hours and premises as lines between home and work become “more blurred”, while technology will continue to have a huge impact leaving firms resisting advances “left behind, unable to compete”.

“If anything, the past few years have shown that UK businesses have the ability to adapt to face challenges head-on and evolve to respond to new opportunities,” said Bibby Financial Services chief executive Edward Rimmer. “The way businesses use and access funding will certainly change in the coming years.”

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