Self-employed and contract workers 'unable to survive a week'

One in five

Adam Saville
clock • 1 min read

LV= reveals research conducted before coronavirus to show lack of financial resilience of self-employed

According to a survey of more than 1000 UK self-employed, part-time, contract and gig economy workers carried out at the end of 2019 by LV=, one in five self-employed and contract workers said they would be unable to survive a week without work.   It also showed a quarter (26%) had less than £2,000 of savings should they be unable to work through illness or an accident. More than one in 10 (11%) wouldn't last anytime without using long-term savings and 30% would run out of money in less than a month. Nearly half (48%) said they couldn't turn to friends or family for financial support ...

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