Just over 13% of the UK population are self-employed. Is being self-employed the way forward or are we forced to choose the path? In this month’s Debt Talk podcast, Ripon Ray spoke with three guests from different perspectives.
James Harris has been self-employed for nearly 25 years in the creative sector. He explained how funding in the creative sector has been reduced. There are also very few fashion shows compared to when he began his career in the sector. His work began to dry out and it can vary from season to season. His biggest worry is personal finance since Universal Credit introduced the Minimum Income Floor leading to him getting into rent and other arrears.
Andy Chamberlain - Director of Policy from the Association of Independent Professionals and the Self-employed Limited - explained the direction of travel within the context of the self-employment sector. He focused on the construction sector is heavily relies on self-employment and then perhaps the creative sector which James may be part of. In terms of age rent range, he focused on people in their 40s onwards. However, he stated that employers should not deliberately choose to hire self-employed to avoid giving workers the rights. However, on the whole, people who get into the sector prefer self-determination.
Sam Nurse - CEO of Money Advice Hub - emphasised some of the issues that she sees in advising self-employed communities who are struggling financially. Although precarious jobs by the nature of the profession could be a challenge, the other factor was due to a lack of bookkeeping experience or not filing financial reports on time to relevant authorities. She recognised that Universal Credit’s Minimum Income Floor ended up discriminating against self-employed, unlike employees who claim welfare support.
The panelists also provided TOP TIPS to Debt Talk Listeners. The next podcast is on: ‘Foodbanks and welfare support.’
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