Do the self-employed need more support?

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Every working professional wants their future to be secure and stable, but the financial worry among many of the self-employed workforce is growing and the time has come for them to receive more support.

The amount of assistance offered to those who work for themselves has long been an issue and, like many others, we believe more should be done to back professionals who make the courageous decision to work for themselves.

While positive measures have undoubtedly been taken, such as the impending government review, there’s still plenty more room for improvement.

Last month, we asked members of our LinkedIn group what they thought the government could do to help the self-employed.

Financial services advice was top of the wishlist, with contractors particularly looking for guidance with mortgages and credit cards.

These findings have been backed up by a recent survey by the association of Independent Professionals and the Self-Employed (IPSE), which revealed that contractors are becoming increasingly worried about their post retirement finances.

The report found that over half of contractors were concerned about their future finances, while 37.3% felt unable to contribute towards a pension fund. Perhaps most concerning was an apparent lack of knowledge about financial planning, with respondents seemingly unsure how to save for retirement.

While the government is taking steps to find out how they can further support the self-employed, these new figures prove ministers should pin point certain issues - such as securing a financially stable future for the self-employed.

Financial Services

If you’re worried about your pension, ClearSky Financial Services is here to support you and provide a solution that suits your own personal circumstances.

We offer a full range of services, including help with mortgages, business protection, pensions and ISA planning. For more information, or to make an enquiry, please click here.

Have your say

Are you a contractor? How do you feel about the support offered to you? Join in the discussion on Twitter, or leave a comment below.

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