Self-employment sector growth driven by highly skilled freelancers

(2 minutes to read)

A recent report has revealed that growth in the UK’s self-employed sector has been fuelled by a rise in the number of highly skilled freelancers.

The IPSE’s (Association of Independent Professionals and the Self-Employed) latest data found that the growth of highly skilled freelancers is outstripping overall self-employment growth, which increased by 34% to 4.8 million since 2008.

Other key findings revealed that:

  • There are 4.8 million self-employed in the UK (14% of the total UK workforce) – 4.4 million of which work on their own without employees (the solo self-employed)
  • 46% of the solo self-employed are highly skilled freelancers
  • The average age of freelancers is 47 (46 for general solo self-employed)
  • Freelancers are 43% female and 57% male (35% to 65% for the solo self-employed)
  • The number of female freelancers has grown by 67% since 2008, compared to 33% for male freelancers
  • The highest proportion of freelancers (24%) are in South East England, followed by London (20%) and South West England (10%)
  • The largest number of freelancers (320,000) work in artistic, literary and media occupations, followed by managers and proprietors in other services (236,000), functional managers and directors (135,000) and teaching and education professionals (134,000).

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Commenting on the recent findings, IPSE CEO Chris Bryce said, “This highly detailed study comes at a crucial time. While the Brexit negotiations push ahead, it serves to highlight just how important the self-employed are to the UK. With solo self-employed people contributing £271 billion to the economy – and freelancers alone contributing at least £125bn – the Government simply cannot afford not to prioritise the wellbeing of this dynamic and remarkably productive sector.

“The report goes a long way to dispelling the myth that activity in the self-employment sector is occurring mainly in the ‘platform’ or ‘gig’ economies, when the real growth is in highly skilled freelancer occupations.”

He added, “The rise of self-employed working women – especially freelance mothers – demonstrates that self-employment is a viable way to increase workforce participation. People value flexibility, which is one reason why more people than ever before are moving into freelancing and taking the opportunity to fit their work around their lives. And right now, the Government must do all it can to enable and protect freelancers and the self-employed – both in the Brexit negotiations and beyond.”

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

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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