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Nine million reasons to become self-employed

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Nine million British workers plan to become self-employed in the future.

That’s the headline finding from new research that shines a light on the aspirations of the UK workforce.

Carried out by Aldermore Bank, the study also found that:

  • The proportion of employed workers with ambitions to become self-employed has virtually doubled in the space of a year, increasing from 15% to 29%.
  • Of the nine million Britons with dreams of trying their hand at self-employment, nearly half intend to make the leap within the next three years – some within the next 12 months.

Entrepreneurial nation

Commenting on the research, Charles McDowell from Aldermore said:

The research demonstrates that the UK is a truly entrepreneurial nation with nine million people considering making the ambitious move to become self-employed. This is a significant increase from the four million in 2017, and we believe this will put the UK economy in good stead for the future.

Myriad uncertainties

He added:

It takes a lot of courage to make the major life decision to become self-employed, and it is encouraging to see almost three in 10 expect their revenues to increase in the next 12 months, which is a positive outcome in light of myriad uncertainties.

Making the leap

Aldermore’s research suggests that, for those who have already made the leap from employment to self-employment, the switch is paying off.

Key findings include:

  • Seven in 10 (70%) self-employed people believe they made the move at the right time.
  • A majority (51%) of the self-employed are making more money than when they were in a permanent job.
  • Almost all (93%) enjoy being their own boss.
  • Confidence levels amongst the self-employed are high despite Brexit, with 53% of survey respondents saying the UK’s departure from the European Union will have little or no impact on them.

Become self-employed with ADVANCE’s help

Becoming self-employed isn’t without its risks and challenges, of course.

Aldermore found that financial fears were at the forefront of people’s minds at the point they decided to take the plunge.

Nearly half (44%) of those surveyed were worried about not having a regular source of income, while 38% had concerns over irregular work.

Since 2010, ADVANCE has helped thousands of people become self-employed.

If you are thinking of making the leap and would like some advice, call us on 01244 564 564 or complete the below form to request a callback.

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