It’s no secret that we are huge fans of the limited company contractor lifestyle, but it’s still good to have those opinions supported by some of the latest industry statistics. Take the recent survey of 2,000 people by Scottish Widows – through their new ‘thinktank’ titled the Centre for the Modern Family – as a good example.
One of the questions they asked was whether people in the UK dream of working for themselves or becoming self-employed one day. And the answer was that a staggering 42% of those interviewed do indeed have that dream. In fact, 5% of those who completed the survey said they are actually planning to leave their current job and set up on their own ‘as soon as they possibly can’.
One huge reason for looking to move out of traditional employment and into a freelance or contractor lifestyle was flexibility – with 53% of those surveyed stating that their main reason for doing so would be to manage their childcare responsibilities. It seems that it’s all about making their job fit around their family, rather than the other way around, and indeed a key reason cited by many people was to spend more time with their families overall.
Unsurprisingly, the figures also varied between the sexes, with almost half of self-employed women with children (46%) stating that they chose this career path in order to work around their family – compared to just 7% of men giving the same reason. Meanwhile, 35% of those who are already self-employed confirmed that this lifestyle does indeed give them the extra time with their families that they wanted. We’re surprised this figure wasn’t higher, but then it’s all about how someone manages their time once they are their own boss – and interestingly, when you look at the stats for just women, that figure rises to 49%.
Commenting on the results of the survey, Chairwoman of the Centre for the Modern Family Anita Frew said, “To a growing number of people, self-employment offers a chance to structure a rewarding career around family life.”
With UK self-employment numbers increasing by 133,000 over the last 12 months, they now accounting for 15% of the UK workforce. So it’s clear to see that becoming a limited company contractor could have huge work/life benefits, whether you’re a parent or not. Time to stop thinking and start planning.