Research from Qdos Contractor has revealed the main reasons why people choose to become self-employed.
The research surveyed 716 freelancers and contractors in the UK and found that rather than becoming self-employed to earn more money, nearly half of respondents (48 per cent) said that they instead chose to work for themselves to have greater independence and control.
Top
Money was still found to be a top motivator for self-employment, with 31 per cent of respondents saying that they chose to work for themselves to boost their earnings and have higher day rates.
Having a better work-life balance is also a top priority for some UK workers, with 12 per cent of freelancers citing this as their main reason for becoming self-employed.
Nine per cent of respondents cited other reasons for becoming self-employed, such as “all of the above”, because they were made redundant or because they wanted to work with their preferred companies.
Freedom
Commenting on the research, Qdos Contractor Chief Executive Officer Seb Maley stated that self-employment gives people more control and freedom over their lives and careers, and the fact that the largest percentage of contractors and freelancers give this as their main reason for going it alone highlights that independence is priceless.
He said that the UK’s self-employed workforce has faced a number of challenges recently, such as IR35 reform and tax-free dividend allowance cuts, as the Government looks to clampdown on people that they believe are working in this way to avoid paying tax.
He added that the Government should take note and think again about their stance on self-employment, as for many contractors and freelancers, money isn’t the main motivator.
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