Over-50s swell ranks of the self-employed

‘With age discrimination, we are seeing more over-50s finding they have no choice but self-employment’

OVER-50S now make up nearly half of self-employed workers because companies discriminate against them over their age, research suggests.

Around 2.27 million over-50s work for themselves, up from 1.45million a decade ago, according to a study by Rest Less, a jobs and advice site catering for older people.

Stuart Lewis, its founder, said: “Many people in their 50s and 60s can feel left behind and ignored by the workforce due to their age.

“For those who have had to take time out of their careers, perhaps to look after grandchildren or an elderly relative, it can be much harder than it should be to open doors back into the workplace. Sadly, with age discrimination, we are seeing more and more over-50s finding they have no choice but to venture into the world of selfemployment to make ends meet.”

The analysis also indicated that almost one in five of the self-employed workforce is over 60.

The number of self-employed has increased from 3.85million to 4.92million in the past decade, the report said. Patrick Thomson, from the Centre for Ageing Better, said: “Older workers are the fastest-growing part of the workforce, and this is also true of those in self-employment.

“With a rising state pension age and more of us needing to work for longer to support our longer lives, self-employment can offer opportunities for flexible, fulfilling and rewarding work.

“[But] others might be turning to self-employment due to barriers in the job market like ageism or a lack of opportunities for progression.”

A separate study commissioned by the Resolution Foundation suggested a link in rising self-employment with the introduction and increase of the legal minimum wage.