May 5, 2014

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Self-Employment Surge Masks Job Figures in UK

Hopes that falSelf-Employment Figures Mask Jobs Crisisling unemployment in the UK is a continuing trend have been slightly dashed this week as it was revealed that the numbers of people declaring self-employment is the highest in the country than ever before. In many cases, this is great news – for the entrepreneurial masses, however, with figures also showing that self-employment spells an income of nearly 40% less than the employed, the news is causing concern amongst shadow government ministers.

The shadow work and pensions secretary, Rachel Reeves, said, “This report shows how the cost-of-living crisis is making life harder for millions of self-employed people who have seen their earnings fall dramatically. It’s increasingly clear that David Cameron’s government has failed to tackle low pay and insecure work. A Labour government will raise the minimum wage, get more employers to pay the living wage and look carefully at how universal credit supports the self-employed.”

Self-employment often means standing on your own feet and is a situation that is embraced my most. Fears grow that self-employment for the latest wave of citizens is little more than an act of desperation as the benefits system receives a nationwide shake-up.

As much as we all believe in the growth of the economy and reports show that there are indeed improvements – the construction industry has shown increasing month-on-month growth for the last three financial quarters, which is encouraging. Is it enough? We ask ourselves.

As a long-term convert to self-employment, I can honestly say that I prefer to be completely in control of my own financial situation. It is perhaps true that some weeks are more difficult than others and motivation plays a key role in that too! Self-employment should never be looked at in desperation, however, it requires effort and determination – not to mention a range of skills that are often backed up by ‘a department’ of some kind in a big company – sales, manufacture, distribution and logistics, finance management – need I go on?