Over-50s most likely to work for themselves

Over-50s are fuelling the rise in Brits deciding to work for themselves, according to official figures.

A report from the Office for National Statistics (ONS) has indicated that the amount of self-employed 50 to 64-year-olds living in the country has risen by 15 per cent in the past four years, whilst there has been a 54 per cent rise in over-65s working for themselves.

A report from thisismoney.co.uk has suggested that a lot of over-50s don’t have many other options should they lose their job in the middle of a recession.

However, it could be argued that these individuals are best placed to make a go of running their own business. Many are likely to have stored a bit of money in the bank and are likely to have gained plenty of knowledge from their years in employment.

Even those who don’t consider themselves particularly business-savvy might have the funds to invest in a franchise agreement, so that they already have a potentially successful business model to manage.

According to express.co.uk, the survey suggested that more British women are considering the possibility of working past retirement age than men. It indicated there are more than four million women who expect to work past this threshold.