71 PER CENT OF BRITS CONSIDERING SELF-EMPLOYMENT
PeoplePerHour, the UK’s leading freelance marketplace, reveals that 71% of Britain’s employed workforce (that’s over 23 million workers) are considering starting their own business or going freelance because they aren’t getting what they want from their employers.
The news follows yesterday’s budget announcement, which also revealed that up to one third of self-employed workers could face increases in taxes and national insurance due to changes to IR35, posing a significant bill on the freelance marketplace.
PeoplePerHour’s study of over 1,000 current employees found that the majority (68%) have little or no access to flexible working options, including working from home (64%), annualised hours (64%), flexitime (57%), job sharing (77%) and compressed time (73%). This, along with other key findings, is encouraging employees to consider self-employment:
- Over half of UK employees (56.7%) work anything between 36-60 hours per week
- A massive 62% have no passion for the job they do
- And 57% say their biggest bugbear at work is lack of praise
In a digital age where remote working is expected and employees are used to living an on-demand lifestyle, it’s not surprising that the country’s workers are wanting to set up on their own. What is surprising is the fact that these issues are still so common in the workplace and that businesses are failing to adapt to shifting trends. Despite the rise of new working communities complete with pool tables, coffee machines and beer at 3pm, the reality is that the workforce aspires to the flexibility and rewards of running their own business, despite tax rises.
Xenios Thrasyvoulou, founder & CEO at PeoplePerHour, explains: “Brits are a nation of passionate people who are all looking to live their work dream. That is already a reality for some, whilst others are hustling to turn their work dream into reality. When it comes to money, Brits are very cautious of starting out on their own, with 3 in 4 saying financial stability is the biggest barrier to them. However, the budget announcement shouldn’t deter prospective entrepreneurs; the combination of passion, obtainable goals and a flexible, skilled team to support business growth is the best recipe for success.”
Retrospectively, data revealed that the top three things people desired from their working life were:
- Doing something they feel passionate about (43%)
- Having a better work/life balance (39%)
- Having the ability to work flexible hours (32%
Original source - London Loves Business
YOU'RE REQUIRED: ALAN SUGAR URGES PUBLIC TO GET BACK TO WORK
Business tycoon Lord Alan Sugar today urged Brits to “put on a suit, put on a dress and get back to work” amid rising calls to kickstart the faltering economy. Speaking to LBC radio, Sugar ...
LOCAL LOCKDOWN GRANT SUPPORTS BUSINESSES FORCED TO CLOSE
New grants worth up to £1,500 will be available every three weeks to businesses required to close due to local lockdowns or targeted restrictions. The new grants come as the government ...
CITB TO REMOVE 5,000 SMALLER CONTRACTORS FROM LEVY SYSTEM
Around 5,000 smaller construction companies will not have to pay any levy to the CITB next year. The training body is raising its Small Business Levy Exemption threshold for employers with wage b ...
540 JOBS LOST AFTER NATIONWIDE ACCIDENT REPAIR SERVICES GOES INTO ADMINISTRATION
The repairer was sold to RunMyCar, keeping 80 sites open but resulting in the closure of 30 more. Nationwide Accident Repair Services has collapsed into administration, along with a number of its subs ...
VIRGIN ATLANTIC TO CUT ANOTHER 1,000 JOBS AFTER £1.2BN RESCUE DEAL
Virgin Atlantic is said to be preparing a further 1,000 job cuts, hours after securing approval for a £1.2bn rescue deal. The airline, founded by Sir Richard Branson in 1984, will announce the l ...
SELF EMPLOYED .. WHAT CAN I CLAIM AS EXPENSES?
If you're self-employed, you will have various running costs. Some of these expenses you can deduct on your tax return as allowable expenses. Allowable expenses do not include money taken from your bu ...