The number of people choosing to become self-employed has continued to grow, making up 15% of the total workforce.

Now numbering a record 4.6 million, the self-employed population has increased by 800,000 since 2008.

The analysis by the Department of Business, Innovation and Skills also shows that becoming self-employed is proving increasingly attractive to older people.  43% of self-employed people are aged 50 and over while 11% are under 30.

A third of the self-employed population are women amounting to 1.49 million people.  Since 2009 women have decided to become self-employed at a faster rate than men.

However, Mike Cherry, policy director at the Federation of Small Businesses pointed out there is a disparity in the support available to employed and self-employed people:

"For too long the self-employed have been frozen out of getting fair access to mortgages, insurance products and pensions."

The Need For Flexibility

The Self-Employed and Freelancer Association (IPSE) has called for increased flexibility with regards to loans and insurance products to provide further support for self-employed people.

Simon McVicker, director of policy at the IPSE said:

"Our research has shown that over a third (38%) of freelancers who are thinking of taking out a mortgage are concerned they won't be able to.

Mortgage providers should seize the opportunity the self-employed present by developing bespoke products.  This will allow the self-employed to have the same level of choice and access to mortgages as any other group."

Contact us to talk about becoming self-employed or your current self-employed status.