London, England, United Kingdom (AHN) – British Prime Minister David Cameron promised Monday a review of regulations and taxes to encourage Britons to set up new enterprises, rather than just looking for jobs. By setting up businesses, more jobs would be generated.

Cameron made the pledge as Britain observes Global Entrepreneurship Week U.K. He said many companies started out small, but eventually grew larger and helped the British economy by generating more employment opportunities.

According to the Business Department, the number new private sector companies that employed people in 2009 dipped by 17,000. However, for the same year, 68,000 new enterprises run by one person were opened.

The global financial crisis has taken its toll on large businesses. One indicator is the decline in number of established businesses with minimum sales of $105,000 (70,000 pounds) annually by 25,000 in 2009. For the same year, 76,000 smaller businesses were established.

However, not all large businesses in Britain are downsizing as a result of the recession and financial crisis. Some sectors, such as supermarkets, are still on an expansion mode. They are aggressively buying branches overseas and creating jobs.

One of them is Britain’s second largest supermarket chain Asda, which announced Monday plans to create over 7,500 new jobs across the country in 2011. The new jobs will consist of 3,500 positions in new stores, 2,400 at the home shopping service, 100 in new pharmacies and 1,500 at Netto stores.

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