4million British workers hoping to become self-employed

A recent report conducted by Aldermore stated that the equivalent of four million British workers are hoping to become self-employed in the near future, with more than 22 percent claiming this has always been an ambition.

The Aldermore research indicates employees who are yet to take the leap are expressing a keen desire to earn more money, with 48 percent of participants aged between 25-34 citing higher earning potential as the key motivation for this career change.

Could this mean a move for more traditional businesses to using self-employment contractors as opposed to full time workers? The research is striking and could indicate that a growing proportion of people really want to feel more in control of their futures and professional progression. These are two incentives highly sought after by British workers that have been addressed in many other studies into employee engagement. The news and results also rides on the back of the marketplace – where headlines state that there are ever decreasing opportunities to achieve such goals in the average entry level role currently on the UK jobs market, meaning that more and more Brits are being swayed towards self-employment.

According to ONS, the level of self-employment in the UK increased from 3.8 million in 2008 to 4.6 million in 2015. While this strong performance is among the defining characteristics of the UK’s economic recovery, the recent rise in self-employment is the extension of a trend started in the early 2000s.

Sales and marketing specialists Monarch Movements are a business who offer offer self-employment contracts, providing their staff with the opportunity for higher earnings, more flexibility and an improved work-life balance spoke of the findings. Their CEO believes this is key to their success.

“We try to evolve with today’s workforce and as more people strive for freedom and choice; self-employed contracts help to keep us ‘up-to-date’ with the demand.”  says CEO Damian Crofts

‘Millennials, in particular, look for work opportunities that allow flexibility and freelancing or contracting is proving a successful way for small businesses to attract this young talent. Monarch Movements dedicate time to understanding clients and their target market, as well as any short and long-term goals. By doing this, the firm continues to efficiently execute unique marketing campaigns for a range of exciting brands.’