Over-65s are profiting from a rising trend in the number of people becoming self-employed, according to a study.
“The rise in self employment is in my opinion one of the major factors in helping the UK economy stay afloat. The reason for this is that a significantly higher amount of jobs have become available, decreasing the unemployment rate, and therefore providing the government with a higher amount of funding to spend on more deserving factors like the NHS and educational workplaces such as colleges and schools.
With the state pension age increasing, there are more silver self employed and therefore a significant increase in contributions to the UK economy. The silver self employed are not only putting their life time earned skills to good use, but are also able to contribute more to their pension, taking pressure off loved ones. Compared to the silver self employed who have a better understanding on business accounts and taxes, the younger generation entering self employment lack these skills.
As stated 35% of people found this was an issue when setting up their own business, fortunately at my firm we can offer this service for a small charge to help make self employment stress free.”