Self-employed see bright future

Self-employed workers in the UK are confident that their businesses will flourish in the months ahead, according to a new report.

The Kensington Self-Employed Index reveals that two-thirds of self-employed Britons are confident about their business prospects for the coming six months. Some 48% also expect turnover to rise in the next year, up by 5% from February.

With these positive predictions in mind, a quarter of self-employed workers expect to employ more staff in the next year, up from a little over a fifth in February.

Business owners between the ages of 35 and 44 are particularly buoyant, with 36% describing themselves as "very confident". A significant 59% of those in this age category believe that turnover will increase during the coming year.

Ian Giles, director of marketing at Kensington Mortgages, said: "With four interest rate rises since August and a change of Prime Minister imminent, many people are becoming more cautious about the outlook for the finances over the next six to twelve months."

"But not the country's growing band of self-employed – they are going from strength to strength, and are even more bullish about their business prospects than they were three months ago."

Similar figures have emerged from HSBC's Small Business Research Trust, which indicates that 45% of small businesses expect sales growth over the coming year.