IPSE RESEARCH: OVER FIFTIES ARE DRIVING THE RISE OF SELF-EMPLOYMENT

blog header image

Posted : 18 Nov 2019 at 09:53:01
Category: News

Share this article

Millions of older workers are joining and benefiting from the freelance sector, new research from IPSE has found.

IPSE’s research shows there are now almost two million (1,907,000) self-employed people over the age of 50 in the UK: a number that has increased by 58.5 per cent in the last ten years.

The growth is even bigger among highly skilled freelancers. Today, there are almost a million (950,000) highly skilled freelancers in the UK: a number that has risen by 68.2 per cent in the last ten years.

A new IPSE report on the motivations and challenges of the self-employed shows why so many older people are turning to self-employment. They said the four key factors are:

  • Being able to work more flexibly (89% agreed this was a factor).
  • Having more control over work (89%).
  • Having more control over hours (84%).
  • The freedom to choose where to work (83%).

One in four older freelancers did say, however, that losing their previous job was a factor in turning to freelancing. This is compared to just seven per cent of 16-29-year-olds.

The report does show, however, that older freelancers are overwhelmingly happy with their lot. Four out of five (81%) said they were happy with freelancing – compared with three out of five 16-29-year-olds. Remarkably, 0 per cent disagreed with the statement that freelancing suited their lifestyle – compared to an average of 10 per cent among other age groups.

IPSE’s Head of Research, Chloé Jepps, said: “This research clearly shows that over-fifties have played a crucial part in the growth of self-employment in the last ten years. And what’s remarkable – aside from the sheer number of older people turning to freelancing – is how happy they seem to be with it. 

“Over-fifties are looking to freelancing for greater flexibility and control over how and when they work. For some, it is a way to move away from the confines of the 9-5; for others, it’s a way to launch or develop a passion project.

“It is clear that freelancing is not just an economic good for this country: it is also a great social good and a liberating force for millions of older workers. It is vital the government gets behind this remarkable shift in our workforce.” 


Original Source IPSE https://www.ipse.co.uk/ipse-news/news-listing/ipse-research-over-fifties-rise-of-self-employment.html

LATEST SIMILAR NEWS

HMRC HITS CATERPILLAR FOR £37M
Posted on: 02 Dec 2019 at 10:04:49
The UK tax authorities have clamped down on Caterpillar’s tax avoidance methods in the UK and billed it for £37.5m.Haul truck made by Caterpillar in the UK using globally source componentsThe tax demand followed a review by HM Revenue & Customs of Caterpillar’s transfer pricing agreements....
CV FOR SELF-EMPLOYED OUTSIDE OF IR35
Posted on: 28 Nov 2019 at 07:27:57
Making sure that your CV and online presence is adjusted for IR35 as of April 2020 is essential.So what does a post-IR35 reform CV look like? And what steps should Limited Company Contractors take now to get their primary work-seeking paperwork reflective of their genuinely self-employed status?CV,...
EMPLOYER CONFIDENCE IN THE UK ECONOMY DROPPED FURTHER IN THE RUN-UP TO THE GENERAL ELECTION, TO A NET FIGURE OF -34.
Posted on: 27 Nov 2019 at 12:35:39
ARE THE 5 MILLION SELF-EMPLOYED WORKERS SEEN AS AN IMPORTANT PART OF THE ELECTORATE?
Posted on: 26 Nov 2019 at 18:31:31
Following on from Boris Johnson unveiling the Conservative manifesto on (24/11/19) and the Liberal Democrats announcing theirs (20/11/19), it appears the 5 million votes of the self-employed are being viewed as an important section of the electorate.Julia Kermode, chief executive of The Freelancer &...
FLEXIBLE WORKERS AND WHAT MOTIVATES THEM TO CONTRACT OR TEMP
Posted on: 22 Nov 2019 at 12:24:36
KEY FINDINGS Flexibility and good work go hand in hand. Understanding motivators for individuals and businesses is key to maintaining and enhancing two-way flexibility that benefits all parties. Here are some core messages from our research: } Flexible work is the new normal – two in five people in...
FLEXIBILITY WORKS: WHY PEOPLE CHOOSE FLEXIBLE WORK
Posted on: 22 Nov 2019 at 12:13:32
Flexibility works: Why people choose flexible workGood work and flexibility go hand in handThe world of work is evolving, but flexible work has remained a significant and steady feature of the UK labour market. On any given day recruiters place over a million people into temporary and contract assig...