Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

SELF-EMPLOYED? GET READY FOR THE 13-MONTH WORKING YEAR
SELF-EMPLOYED? GET READY FOR THE 13-MONTH WORKING YEAR 

Published : , on

New research shows the self-employed work an extra 14 hours per week compared to employed workers – adding up to an extra month a year

  • 13-month calendar – self-employed work for an extra month every year – despite pursuing a better work-life balance
  • Jan-xiety – January revealed as the most stressful month, with two thirds finding it difficult to sleep because of work worries, including looming tax deadlines
  • Down with down-time – independent workers take a mere half the average holiday allowance
  • Always on – self-employed admit to working on holiday, on the toilet and even on a date

One in seven Brits work an additional month every year, according to new research. The survey of 1,000 self-employed workers reveals that those going solo work a huge additional 14 hours per week, compared to permanent roles.

The survey, commissioned by online accounting firm Crunch as part of its Safety in Numbers Report, also reveals that January is the most stressful time of the year for a third (31%) of self-employed workers – a new phenomenon dubbed Jan-xiety.

In fact, two thirds (66%) find it difficult to switch off and get to sleep because of work stress, with 72% saying financial concerns keep them awake at night, and over one in ten (15%) saying it is due to business deadlines, such as the looming self-assessment tax deadline on 31st January.

The research also shows that working 9 – 5 is a thing of the past for many of the self-employed, as over a third (39%) start the working day before 8am and six per cent even clock in between 4am – 5am. A further 43% are still working after 10pm, with women more likely to work later into the night than men.

Struggling to switch-off completely, 72% of respondents check work emails on a personal phone or laptop, with this rising to 80% for self-employed Millennials. One in six respondents even admitted to checking work emails between the hours of 3am and 7am.

More than half (56%) of respondents became self-employed in pursuit of a better work-life balance, and 45% to dictate their working hours better. The results of the survey clearly show that many self-employed are finding this difficult to achieve, and also highlights that over a third (32%) feel there isn’t enough support for the self-employed.

So, to give the self-employed a helping hand against Jan-xiety – and fit in with how and when they work -Crunch is trialling a customer service helpline with a twist.

In the first of its kind, The Crunch Hotline will offer a helping hand to those with business on the brain in the early hours. Open from 4:00am-8:30pm between Monday 29th and Wednesday 31st January, Crunch’s team of professional advisors will be available on 0333 920 2857, offering much-needed support* to concerned freelancers and micro-business owners during the hours they need it the most.

Darren Fell, Founder and CEO of Crunch, said: “The number of self-employed workers is rising, now making up one in seven of the UK workforce. It is therefore no surprise that working hours are constantly changing, particularly for the self-employed community who are increasingly ‘always-on’.

“We understand that self-employment comes with its challenges, but there are also huge benefits to be gained. With the right support from the organisations around them, the self-employed community can see their dream of a better work life balance become a reality.”

Working around the clock is also having an impact on crucial down-time, as independent workers are taking just 14 days holiday a year – half the national average allowance – and 13% take no time off at all.

But when they do manage to get away, over half (57%) admit to still working, with the most common reason being that they fear they’ll lose out on money (20%). 46% have even found themselves taking a work call or email in an unusual location to keep up with work demands, such as a public toilet (13%), on a beach (11%) and even during a date (2%).

The full top 10 unusual locations people have worked:

  1. A public toilet
  2. On a beach
  3. A fast food restaurant
  4. Up a mountain
  5. A fitting room
  6. A live sports match
  7. A date
  8. In the bath
  9. On a boat
  10. In a hospital

To find out more about the Safety in Numbers report, visit the Crunch website: www.crunch.co.uk/

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post