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Tue, 29 September 2020

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IPSE: Sole traders and the self-employed are vital and need more than “shamefully limited” support from government

IPSE

2 min read Partner content

Sole traders and the self-employed urgently need more support from government, IPSE (the Association of Independent Professionals and the Self-Employed) has said.


The warning came in response to new figures from the IFS (Institute for Fiscal Studies) today, which suggested one fifth of sole traders’ businesses last less than a year.

Simon McVicker, IPSE’s Director of Policy, commented: “Not only are sole traders and the self-employed among the UK’s most economically productive and dynamic groups; they are also happier with their way of working.

“Our research shows that 94 per cent of the self-employed have been in business more than a year and over three quarters are happy with their way of working.

“A recent study by the Centre for Research on Self-Employment (CRSE) showed that the self-employed drive innovation, giving businesses across the UK the flexible skills to grow and also navigate peaks and troughs in demand.

“Sole traders are no different from small businesses across the UK, far too few of which survive the first year. This reflects the shamefully limited support from government for these vital groups.

“Far from discouraging them, for the sake of productivity, British business and the wellbeing of the workforce, we as a country should give more support to the self-employed.

“Government must simplify the self-employed tax system, give freelancers the infrastructure they need and clamp down on the blight of late payment.”
 

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