Cost Responds to Increase in Over 50's Self Employment

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Recession hit times have led to over 50s starting self employed jobs.

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It is especially flexible and adaptable to a lifestyle and is the perfect option for the more mature person.’

The Office of National Statistics figures have revealed an increase in the over 50s continuing working. Typically statistics show that men over the age of 50 years old have began employment in cab driving, landscaping and handy jobs as a way to make some more cash. Figures compared from 2008 show a 9.6 percent increase with 4.2 million people stated as self employed as a main form of employment. Of this amount five in every six were over 50, totalling a percentage of over 72.

Cost, one of the UK’s leading comparison sites believes that the interest in self employed mature people is due to the fact that many lost jobs in the recession and could not get them back. As an older person they would have a network of contacts and experience and so be more likely to fall into working on a self employed basis.

John Walker, chairman of the Federation of Small Businesses added, ‘It is good to see that a large proportion of the increase has come for the more mature setting up their own businesses.’
Those who did work in self employed jobs tended to work longer hours than those in employment in particular jobs like farmers. A representative from Cost explained, ‘As money becomes tighter and more people realise that their pension may not be as comfortable as first thought – many turn to working for themselves as a way to earn extra cash. It is especially flexible and adaptable to a lifestyle and is the perfect option for the more mature person.’

Cost.co.uk continues to follow pension and employment news.

Based in Essex, Cost.co.uk is one of the UK’s leading price comparison sites. Allowing their online customer’s access to companies offering a range of insurance, financial and travel services, the firm specialise in providing a personal experience. Founded in 2012, the agency has a trusted reputation for sourcing the most ideal policies at affordable prices.

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Ben Austin
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