February 26 ,2016 | by Claire Payne

Self-employed are “overwhelmingly satisfied”, according to report

Self-employed workers are “overwhelmingly satisfied” with their job, according to a report by Bright Blue.

The report found that self-employed individuals are much happier than employees in full-time work, despite having a more difficult working life and being more likely to have a low income.

Ambitions

The report, titled 'Standing Alone?', found that 80 per cent of self-employed workers in the UK with a low income are happy with their job, compared to 74 per cent of employees working full-time on a low income.

The report also revealed the ambitions of self-employed workers. Three quarters of self-employed workers said that their goal is to sustain a good standard of living, and 13 per cent wish to expand their business.

In addition, it highlighted some of the challenges that being self-employed can present. Over 50 per cent of respondents said that income fluctuations were a challenge, whilst 37 per cent said a lack of holiday pay and 36 per cent said being able to save “for a rainy day.”

Priority

The report comes after research from debt management service PayPlan found that self-employed individuals are more likely to have debt problems than employees and unemployed people.  

David Kirkby, author of the Bright Blue report, said that self-employed individuals on a low income should be the “priority.”

According to Kirkby, earnings from self-employment have fallen in recent years, resulting in self-employed workers earning a lower income than employees.

Claire Payne

Claire Payne is a journalism graduate and News Writer for LSBF. She writes about SMEs, education and careers, entrepreneurship, women in business, and sustainability.

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