It’s no secret that Brits love being self-employed - nearly a million people have set up as sole traders, freelancers or business owners in the last 10 years. But what is it that drives people to work for themselves?
A new survey has looked into why self-employment is so appealing, with 1,000 respondents aged 18 - 44 telling researchers what they love most about it.
Over three quarters of those surveyed said that being their own boss is the best thing about being self-employed.
But that’s not the only perk of being in charge of your own work. 64 per cent said that one of the best parts is flexible hours. With no boss breathing down your neck, you’re free to decide when you work, as well as what jobs you take.
Flexible working was most popular with the younger self-employed, with 85 per cent of 18 - 24-year-olds favouring it over other aspects of being your own boss.
But with great freedom comes great responsibility, and for just under half of respondents, that was a real draw of self-employment. 40 per cent said having the last word was important to them - much easier when you’re the one in charge and there’s no company red tape to cut through.
Interestingly, there’s something of a gender divide when it comes to enjoying positions of authority. Being the main decision-maker was a key feature of self-employment for 50 per cent of men, but only 27 per cent of women felt the same.
Somewhat surprisingly, salary got less than a fifth of the overall vote, with only 16 per cent saying that extra money was their favourite part of working for themselves.
And while you might think that City workers would be more fussed by the cash in their bank account, salary was only two per cent more popular in the capital than the rest of the country.
Business trips are also not so popular with the self-employed, with only nine per cent saying it was one of their preferred perks. Attending a trade fair or visiting a distant client can be a lot less appealing when travel costs come out of your own pocket!
What’s your favourite part of being self-employed? Let us know in the comments.
With Simply Business you can build a single self employed insurance policy combining the covers that are relevant to you. Whether it's public liability insurance, professional indemnity or whatever else you need, we'll run you a quick quote online, and let you decide if we're a good fit.Start your quote
6th Floor99 Gresham StreetLondonEC2V 7NG
Sol House29 St Katherine's StreetNorthamptonNN1 2QZ
© Copyright 2020 Simply Business. All Rights Reserved. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG.