Rapid growth for self-employment
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The rapid growth of rising self-employment has been evident in all regions of the UK. The number of self-employed increased from 2.4 million people in 2001 to 4.8 million in 2017. The increase in self- employment looks unlikely to rewind. Historically, the self-employed have been disproportionately male and aged over 50. However, the relative and absolute growth of self-employment has been accompanied by a rise in the share of those who are female and who work part-time.
The reasons why people are becoming self-employed vary. Some are self-employed for financial reasons: they can earn more, or keep more of their earnings. But others trade the financial rewards for less easily valued factors: independence, autonomy, flexibility over when they work.