How to set up your own businesses as unemployment falls

Unemployment has fallen in the latest set of job figures, but not by much.

It's down by 5,000 which means 2.51 million people were out of work from February to April. Around a million are under 25.

One way people are trying to get work is to go into business for themselves and be their own boss.

Natalie Needham set up her own beautician business when her husband, David, was made redundant in January.

Natalie Needham

Natalie Needham

"I'm registered disabled so my only way to use my qualifications was to set up on my own," she said.

"I can be my own boss and work hours around my disability and around my family life."

But she also says she didn't get much help from the banks.

"They don't see it as a viable business so I got turned down from everywhere," she revealed.

That's when Natalie says she went to the Prince's Trust charity and got a £1,700 loan.

She was put onto a four-day business course to help her get started.

She said the course taught her how to set up a business, how to do her accounts and her inland revenue returns.

"It is an intense four days but it does separate the people that are serious and the people that are just there because they think it's easy."

'Worth it'

Natalie's only been trading for a couple of months but says it's going well so far.

"It's very early days but I'm fully booked through the summer months with weddings, so it's absolutely fantastic," she said.

"I'm looking at taking myself further afield, so not just Nottingham and in a few year's time I see myself getting a few more members of staff.

"[It's] a lot of hard work but definitely worth it."

Jasmine Hetherington-Wilkes

Jasmine Hetherington-Wilkes

Someone who is a bit further along the line than Natalie is Jasmine Hetherington-Wilkes.

She left university in 2010 but couldn't find any work so decided to go into business on her own.

With the help of a £4,000 loan from the Prince's Trust and a mentor to help her run the business she set up her own video production company, BOKO Creative.

"It's definitely not an easy road to take," she said.

"People think that you can just start your own business because there's nothing else out there, but you really have to work hard and you really have to be committed."

Jasmine started working for free to get her work noticed and only made £350 in her first month of trading last year.

Now though, things are going well.

"We've got a healthy turnover, have six members of staff and a little office in Hackney and we're actually looking to expand.

"We've got aspirations to take BOKO global."

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