Today’s news from the ONS that self-employment has continued to rise at a record rate is cause for celebration, according to PCG, the representative body for independent professionals.
Simon McVicker, Director of Policy and External Affairs at PCG, said:
“Over the last year, we’ve seen the rate of growth in self-employment rise at almost five times the rate of traditional employment to stand at a record high of 4.58 million. Unemployment also fell by 6.5%, thanks in no small part to the army of brave individuals making the choice to go it alone.
“It is also encouraging to see that women are central to this growth in self-employment, up 15% while permanent employment among women grew by just 1.8% in comparison. This is likely to partly be due to the flexibility that self-employment offers, making it easier to juggle work and family commitments and could also be indicative of a welcome societal shift in attitudes away from the idea that running a small business is the sole preserve of men.
According to Simon McVicker, it is encouraging to see that self-employed people are bucking the trend when it comes to the weak pay growth currently affecting those in traditional employment.
“Our latest Freelancer Confidence Index shows that over a third of self-employed people are confident their income will increase over the next twelve months. While self-employment comes with risk, it also provides the opportunity to shape your own destiny in a way that is becoming ever more popular among Britain’s workforce.”