18th July 2022
Facing Financial Hardship
When you work for yourself or as a contractor, you have the advantage of being your own boss, but you forego traditional employee benefits such as sick leave. Please contact us for more information on how we can help protect your future financial well-being and the options available to you.
SEEKING FINANCIAL ADVICE
According to new research[1,] more than half (57%) of self-employed workers in the UK rely on personal savings when they are not working, but a staggering 81 percent do not seek financial advice. Nearly two-thirds (64%) of self-employed people in the UK reported not having a regular income, with only one in five (23%) receiving a monthly salary.
The study also discovered that nearly half (48%) of self-employed people see their income fluctuate as a result of owning their own business, with a similar proportion (49%) attributing this to working as a freelancer, contractor, or consultant.
Tomorrow we will look at self-employed people’s vulnerability to financial shocks and how they can help protect themselves when situations like this arise.
Please contact us for more information on how we can help protect your future financial well-being and the options available to you.
 The research was carried out online by Opinium Research across a total of 2,002 UK adults (booster sample of 502 self-employed workers and 1,015 renters). Fieldwork was carried out between 21–27 October 2021.