A New Deal for the Self-Employed
Improving the Financial Resilience of Low-Income Self-Employed People in Wales
Self-employment has increased in the last ten years and now accounts for nearly one in seven workers across Wales. The proportion is even higher in rural areas such as Powys and Ceredigion.
This report, by the Bevan Foundation, finds self-employed people in Wales need a new deal to boost their financial security. While working for yourself can bring many advantages, it found for some self-employed workers it brings financial insecurity and poverty.
Self-employed people on a low income are especially hard-hit by unexpected events like sickness. Unlike employees, they do usually qualify for minimum sick pay and are sometimes denied other social security benefits.
The Bevan Foundation is calling for the Welsh Government to take action saying it should do more to support self-employed people to run their business better to increase their incomes, for example by providing micro-loans and bite-sized training. It also suggests Welsh grants and allowances should be made available to people on low incomes to make sure that they do not exclude people because of their employment status.
It is the second of two reports published by the Bevan Foundation on self-employment in Wales.
The first report was published during 2021 and set out much of the context of low-income self-employment in Wales and across the UK.