Most sole traders surveyed thought they had a positive work-life balance Photo: Andrew Holden
Sole traders are managing through the economic downturn with more control over work-life balance than people in paid employment, according to a survey of 400,000 self employed workers.
The latest independent Sole Trader Pulse commissioned by fintech app Hnry suggests sole traders were thriving in ways employed workers cannot when it comes to work-life balance, flexibility and job security.
About 63 percent of those who became sole traders in the past two years said unemployment or underemployment played a role in their decision to go solo, but they were now reaping the benefits.
Hnry chief executive James Fuller said 68 percent of those surveyed thought they had a positive work-life balance, with more than 80 percent indicating they had more flexibility and choice in their work hours.
"They can control so much more than those who rely on a salary or a job market for security, where 30,000 more people are now unemployed than a year ago," he said
Half of them described having good or very good job stability, while 43 percent were expecting the economy to improve within a year, though 46 percent thought it would take five years for an improvement.
"However, they're staying focused and pivoting when needed, proving that for many people, self-employment is still the best option, especially given the benefits that come from better flexibility and work life balance it offers," he said.
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