Significant number of UK workers 'planning to become self-employed', research finds

Research carried out by banking group Aldermore has suggested that a significant number of UK workers are planning to become self-employed in the future. Aldermore found that 29% of individuals aim to become self-employed – a notable rise when compared to 2017’s figure of 15%. 15% of workers plan to launch a business in the retail sector, whilst an additional 11% plan to move into the catering and accommodation industry. 18% intend to make the move in the coming year, the research suggested. Aldermore found that economic uncertainties ‘don’t seem to be a concern’ to entrepreneurs, with 53% stating that Brexit negotiations will have ‘little impact’ on their business. However, the research also revealed that 70% of workers believe it is harder for the self-employed to secure a mortgage. Commenting on the findings, Charles McDowell, Commercial Director for Mortgages at Aldermore, said: ‘The research demonstrates that the UK is a truly entrepreneurial nation, with nine million people considering making the ambitious move to become self-employed. ‘It takes a lot of courage to make the major life decision to become self-employed, and it is encouraging to see almost three in ten expect their revenues to increase in the next 12 months, which is a positive outcome in light of the myriad of uncertainties.’ As your accountants, we can advise on the optimum business structure to suit your requirements – simply contact us to find out more.

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