Changing Times – How and Why is Self-Employment Booming?

Yesterday, we took a look at just why unemployment in the UK has been receding so much. For quite a while, theories were bandied about that suggested the presence of ‘hidden unemployment’, but that’s not the direction that the prevailing wind seems to be blowing in. Far from a career choice of desperation, self-employment is becoming a go-to option. It can’t be denied that self-employment has grown beyond all expectations, but just how has it expanded at such an impressive rate?

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The Expansion of Self-Employment – Ongoing Trends

We’ve already talked about a shift in what UK people are looking for in terms of work, but there’s also been a change in terms of exactly who is working. One of the major alterations to be seen in this new and ‘flexible’ economy is a greater percentage of older people who are carrying on in work. According to The Telegraph, so-called ‘silver entrepreneurs’ are playing a huge part in terms of the growth of the self-employed workforce, with a full 50% of self-employed growth since 2004 being attributed to individuals aged 65 and over. But just why is this pattern so popular?

When you think about it, it makes perfect sense. Age undeniably brings experience with it, and people with a lot to offer are undeniably going to do well when they work for themselves. This isn’t the only trend we’re seeing – a rise in females who are involved in self-employment has also been noted. As you might expect, the primary reasoning behind this pattern is the attraction of flexible working hours; something that can’t always be banked upon in full-time employment.

The Advantages of Self-Employment – Why Look Elsewhere?

Given these ongoing trends, the fact that less than 9% of self-employed workers are looking for an alternative occupation is unsurprising. The advantages of self-employment suit a great number of people down to the ground, so why look for something else? In light of the affordability of internet business, and also the preponderance of technology, working for yourself has never been more convenient. That’s doubly true when you have professional support in place, as such assistance can really make the whole self-employed experience totally streamlined. This is where we can help.

ICS can offer a team of dedicated contractor accountants, helping to remove all the stress from burdensome tasks like administration and accountancy. If this side of self-employment puts you off, it doesn’t have to. For further information and to find out how we can help you today, contact our friendly team by calling 0800 195 3750 or chat to us online.