Skip to main content
We're here with practical information for your business. Learn about business planning, running a business and more.

Search

For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

Advice on protecting your wellbeing, self-confidence and mental health from the pressures of starting and running a business.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Why are so many over-50s self-employed?

11 April 2023

Almost half of the UK's self-employed workers are over the age of 50. But is self-employment a choice or is age discrimination forcing many older people to work for themselves?

A new study by Rest Less has found that the number of self-employed people aged 50 or more has increased by 18% in the last decade. It means that almost half of the self-employed workforce across the UK are now over 50 - the latest research by freelancer body IPSE suggests that 48% of self-employed workers are over 50.

With the retirement age set to rise to 67, most over-50s need to keep working for many more years; the findings of the Rest Less report suggests that the cost of living crisis and a desire for flexible working is driving many into self-employment.

Stuart Lewis, chief executive of Rest Less, said: "Self-employment provides a way for older workers to use their skills and experience in a flexible and autonomous way while also generating income and maintaining their sense of purpose.

"Technological advancements mean setting up a business in your 50s or 60s has never been easier and armed with rich life experience and a valuable business network behind them, the appeal of building something of their own or pursuing a passion project can be a powerful draw."

Age discrimination

However, self-employment is not a choice for all, he adds. "Shut out of the mainstream workforce due to a lack of flexible working opportunities and rampant age discrimination in the workplace means many older workers have no choice but to set up on their own.

"Stuck between a rock and a hard place with a rising cost of living and the state pension age soon to be extended to 67, self-employment can feel like the only option for many who have been denied access to traditional employment."

Self-employment in numbers

  • There are 4,094,655 people in the UK solo self-employed sector;
  • This workforce contributes an estimated £278bn a year to the UK economy;
  • The overall solo self-employed population is 62% male and 38% female;
  • The average age of the UK's solo self-employed is 48;
  • 23% of UK self-employed workers are aged 40-49;
  • 27% are aged 50-59;
  • 21% are 60+.

Source: The IPSE Self-Employed Landscape Report 2022

Written by Rachel Miller.

Stay up-to-date with business advice and news

Sign up to this lively and colourful newsletter for new and more established small businesses.