Self-employment numbers driven by the over fifties

The number of self-employed people over 50 has increased by an incredible 58.5% over the last 10 years, bringing the figure to 1,907,000.

The findings from the Association of Independent Professionals and the Self-Employed (IPSE) also revealed the motivations and challenges of those working in the sector, showing why so many older people are choosing this route.

The key factors included:

• Being able to work more flexibly (89% agreed this was a factor)
• Having more control over work (89%)
• Having more control over hours (84%)
• The freedom to choose where to work (83%).

Of those surveyed, 81% of older freelancers said they were happy with freelancing – compared with three out of five 16-29-year-olds.

IPSE’s Head of Research, Chloé Jepps, commented on the latest findings, “This research clearly shows that over-fifties have played a crucial part in the growth of self-employment in the last ten years. And what’s remarkable – aside from the sheer number of older people turning to freelancing – is how happy they seem to be with it.

“Over-fifties are looking to freelancing for greater flexibility and control over how and when they work. For some, it is a way to move away from the confines of the 9-5; for others, it’s a way to launch or develop a passion project.

“It is clear that freelancing is not just an economic good for this country: it is also a great social good and a liberating force for millions of older workers. It is vital the government gets behind this remarkable shift in our workforce.”

To find out more about contracting please contact Sophie on 01442 795 100 or email sophie.lewis@contractoumbrella.com.