Self-employed individuals 'unfazed by Brexit', study suggests

01 Jun 2018

A study carried out by mortgage lender Kensington Mortgages has suggested that a significant number of the UK’s self-employed workers are ‘unfazed’ by Brexit.

Kensington Mortgages surveyed more than 1,000 self-employed individuals, and found that 63% believe that Brexit will have ‘no impact’ on their business.

However, in terms of Brexit’s impact on the UK economy, 52% of the self-employed individuals polled believe that the economy will be adversely affected.

Meanwhile, 47% of those surveyed expect 2018 to ‘bring in more work’ than 2017, and 42% are confident that they will make more money this year than last year.    

The study also revealed that 35% of self-employed workers believe that Brexit will make it harder to obtain a loan, with sole traders and freelancers expected to be amongst those worst affected.

‘Self-employed workers are, without a doubt, the backbone of the UK economy, so we should all take reassurance from their optimistic outlook and ability to build up their savings to cope with life’s unexpected events,’ said Craig McKinlay, Sales and Marketing Director at Kensington Mortgages.

‘The fact that such a diverse group of workers would have diverging views on Brexit is unsurprising. What is perhaps more important is how we respond to these concerns. Regardless of regional location, business size or age, the self-employed have unique day-to-day circumstances that unite them.’