According to new research from Aldermore, almost three in 10 (29%) British workers, the equivalent of nine million people, plan to make the ambitious move to become self-employed in the future.
Making the transition to self-employed can be a risky life decision, but the research shows that the ambition is paying off for those that have already made the move. Over half (51%) of those self-employed have been able to earn more money than in their previous job, and almost three in 10 (29%) expect their revenues to increase in the next 12 months.
Commenting on the research, Charles McDowell, Aldermore’s Commercial Director, Mortgages said: “The research demonstrates that the UK is a truly entrepreneurial nation with nine million people considering making the ambitious move to become self-employed. This is a significant increase from the four million in 2017, and we believe this will put the UK economy in good stead for the future.
“It takes a lot of courage to make the major life decision to become self-employed, and it is encouraging to see almost three in 10 expect their revenues to increase in the next 12 months, which is a positive outcome in light of myriad uncertainties.
“That said, there are still a number of challenges they face in day-to-day life, one being securing a mortgage. Our research has shown that seven in 10 self-employed think it is harder for them to secure a mortgage. This is far too high a figure and mortgage providers need to adopt to the new economy. At Aldermore, we believe those who have made the bold decision to become self-employed shouldn’t be punished for not fitting the traditional ‘norm’. We make things easier for the self-employed, so we offer a human approach to lending which considers each applicants’ circumstances on an individual basis. We want to support entrepreneurs and make people who need specialist lenders feel special.”
To promote this research Mark Wright, the 2014 winner of BBC 1’s The Apprentice appeared on sky sunrise yesterday morning, to watch his interview, click here.
