Self-employment is a viable career path, despite ONS recent report

Self-employment is a viable career path, despite ONS recent report

27 Nov    Finance News, Opinion

Recently, the BBC presented a segment within their BBC Breakfast broadcast, discussing self-employment statistics. Pulling reference from the Office of National Statistics (ONS), the BBC shed light on the fall in those registered as self-employed.

Discussing self-employment in more detail, BBC reporter Ben Bland says “Being self-employed can be the dream for many, but not for all”. Ben Bland goes on to discuss the self-employment figures, according to the ONS, explaining that in the year 2000, 3 million workers were registered as self-employed. The figure grew to 5 million by the year 2019, followed by a fall to 4.2 million by the summer of 2023. Ben goes on to discuss that the pandemic made self-employment even more difficult.

The Institute of Enterprise and Entrepreneurs (IOEE) recognises that the pandemic created challenges that many people had never experienced before. However, the pandemic also offered entrepreneurs some unexpected opportunities.

With the IOEE nurturing a network of entrepreneurs from around the world, the desire to become self-employed is still as strong as ever. There has been another factor that has contributed to the fall in self-employment rates.

Andy Chamberlain, Director of Policy at IPSE, states “There was support for self-employed people, but not everyone qualified for it. Some people got nothing at all, so that made life very difficult, probably impossible for a lot of those businesses” highlighting the oversight of self-employment as a career during the pandemic.

Andy Chamberlain went on to discuss how a change in off-payroll tax rules had contributed to many people choosing to join the employed workforce, instead of pursuing their self-employed dream.

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During the pandemic, the IOEE stepped in to support start-up business owners with an array of support for them and their businesses. Provide access to mentoring, business plan templates, e-learning modules and a range of video resources through their small business survival toolkit.

Following the pandemic, their support didn’t end. The IOEE launched a mentoring project in response to the pandemic, supporting those who were affected by the pandemic. The IOEE positions itself as the leading network for entrepreneurs, and those on an enterprise educational journey.

In light of the recent challenges discussed by the BBC regarding self-employment, the IOEE stands firm in its belief that self-employment remains a viable and rewarding career path. Despite the fluctuations highlighted by the ONS and the hurdles presented during the pandemic, the IOEE continues to nurture a global network of entrepreneurs. The IOEE encourages anyone considering self-employment, to join their network of entrepreneurs and explore the ongoing support available to them. The IOEE is here to guide business owners on their journey toward a successful and fulfilling self-employed career.

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