- There were 991,432 self-employed people aged 60+ in 2023 – an increase of 33% in a decade
- In 2023, 23% of the UK’s self-employed workforce were aged 60+ and 49% were aged 50+
- Of the nearly one million self employed people aged 60+, 223,086 of them were aged over 70
- The self-employed workforce was 4.37 million strong in 2023 with 1.60 million women and 2.77 million men (chart 2)
The number of people aged 60 and older who are self-employed reached a record 991,432 in 2023, according to new analysis from Rest Less, a digital community for the over 50s.
Rest Less analysed bespoke data from the Office of National Statistics’ Annual Population Survey and found that the self-employed workforce reached 4.37 million in 2023, marking two years of consecutive growth since its nadir in 2021 – a low driven by changes to the classification of off-payroll workers through IR35 legislation and the impact of Covid. Self-employment peaked at 4.97 million in 2019.
Chart 1: Number of people aged 60+ in self-employment, Jan-Dec 2013-2023*
Rest Less’s analysis found that whilst the number of self-employed workers in their 50s and older have grown since 2021, it is specifically those aged in their 60s which have set a new record high.
Stuart Lewis, Chief Executive of Rest Less, attributes this to a number of different factors: “With the state pension age soon to be 67 and set to go higher still, many people are choosing to work beyond the point of traditional retirement. For many, self-employment is a great option as it allows people to remain active and engaged in the community and workforce whilst also providing greater flexibility – leveraging their skills, experience and network to make an impact.
‘The decision to go self-employed can be driven by wildly different sets of circumstances from people living comfortably and pursuing an entrepreneurial passion to those who are forced to generate an income and have not been able to find a permanent solution in the mainstream workforce.
The cost of living crisis of recent years has made it particularly challenging for those relying solely on their state pension and we’ve seen an increase in the number of people turning to self-employment to provide an additional income source and top up pensions whilst they still can.”
Suzanne Noble, Founder of Startup School for Seniors, added: “At Startup School for Seniors we’ve seen a consistent increase in those over 60 choosing to become self-employed especially those with caring responsibilities who require a degree of flexibility that full time work rarely affords them.
‘At Startup School for Seniors, we’ve been inspired by the resourcefulness and ambition of people in this age group. Many are not just working longer out of necessity but are choosing self-employment to express a purpose, tap into lifelong passions, and use their bank of experience. This trend reflects a broader cultural change where older adults are redefining later life, seeing it as a time of opportunity, reinvention, and continued contribution to society.”
Chart 2: Number of self-employed workers, Jan-Dec 2013-2023*
Case studies on request
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Notes to Editors
*Based on a bespoke ONS report on self-employment provided to Rest Less in July 2024 and based on Annual Population Survey data between Jan-Dec 2011 – 2023
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About Rest Less
Rest Less (restless.co.uk) launched in early 2019 and is a digital community for people in their 50s, 60s and beyond. Rest Less is on a mission to help its members get more out of life and offers content guidance and resources on topics spanning Jobs and Careers, Volunteering, Learning, Money, Health and Lifestyle and Dating.