New research has suggested that Scotland is home to the highest number of budding entrepreneurs in the UK as a result of Covid, with one in 10 who hadn't previously planned on starting a business saying they now want to strike out on their own.
Accorging to the survey from accounting software company FreeAgent, Scots at 10.2 per cent were followed by Londoners (7.8%), and those based in York (7.7%) who who want to go freelance or start their own business in the wake of the pandemic.
Overall, nearly a third (31.8%) of Scottish adults are making such plans for some point in the future. Looking at the figures in more depth, 7.4% of Scots plan to start their own business during 2021, a further 7.4% plan to strike out in the next couple of years and 17% are planning to do so at some point in the future.
Ed Molyneux, chief executive and co-founder of Edinburgh-based FreeAgent, said this desire for people to strike out on their own followed a similar pattern to that in the wake of the 2008/09 financial crisis. Though not all will follow through on their plans, one potentially significant difference this time around is that huge numbers of people who had never before worked outside of an office setting now have extensive experience of working from home.
"People in the past who might have wondered if it was possible now know that it is completely do-able," he said.
Half of Scots who want to start their own business said it would give them more choice over what they do for a job. More than a third (36.1%) believe it would give them a better work-life balance, and 30.1% believed they could earn more money.
A further 25.3% felt they would get a better sense of achievement by working for themselves.
Brexit has had an impact entrepreneurial plans with 40% saying the UK's decision to leave the EU has put them off starting their own business. The other biggest concerns from Scots when starting a new business were: having the confidence to do so (25.6%); dealing with tax (22.7%); and complying with business regulations (21.6%).
UK mobile networks to tackle rural 4G coverage
Mobile networks Vodafone, O2 and Three are teaming up to build and share 222 mobile masts to boost 4G coverage in rural areas where there is only a patchy signal.
The first stage of the shared rural network will increase coverage in each of the UK nations, with 124 new sites in Scotland, 33 in Wales, 11 in Northern Ireland and 54 in England, the companies have said. Construction will start this year and is scheduled to be completed by 2024.
READ MORE: Orkney, Cairngorms & Borders among rural areas to receive new mobile phone masts
The mobile industry and the UK Government agreed last year to create a shared rural network at a cost of £1 billion to be provided by operators and public funds to improve rural coverage.
In this first stage, the operators will target areas currently reached by only one network. A second stage to tackle areas where they is currently no signal at all will be funded by the government.
Rents plunge in Scottish capital
The shift to homeworking and drop in demand for short-stay Airbnb lets, as well as concerns about Covid rates in urban areas, are thought to have contributed to rents plunging in Scotland’s capital city.
Edinburgh city centre recorded the second highest percentage decrease in the UK, after London, with average monthly rents dropping by £125 last year, while the number of properties is said to have risen by 109 per cent.
According to the latest figures, there are currently 929 flats available for rent in the city centre, compared to 445 for the same month last year.
READ MORE: Edinburgh city centre property rentals soar by 109 per cent amid downturn of short-stay market
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