Hairdressers and taxi drivers fastest in financial trouble | Undertake

If we look at all self-employed persons, the picture of the financial buffers is virtually unchanged compared to the situation in 2019. For example, just like in 2019, 20% indicate that their household can get by for a maximum of three months if the income from their company disappears completely. would fall. Large differences are therefore visible between the occupational classes in which the self-employed are employed. At the beginning of 2021, self-employed people with ICT professions and with business economics and administrative professions, for example, indicated less often that they could no longer complete their household book within three months.

Long-term

The long-term buffer of self-employed people has shrunk slightly compared to 2019. Of the respondents, 39% estimate that they will be able to keep their heads above water for a year or longer if their business income disappears, compared to 41% at the beginning of 2019. Incidentally, 16% indicate that they are unable to estimate how long their household could make ends meet if their business income disappears.

How long the household can survive without the business income depends on the availability of other sources of income of the self-employed person or of others in the household (eg the partner). Of the self-employed persons who have a partner with their own income, 17% indicated that they could do without a business income for a maximum of three months. Of the self-employed with a partner without income or without a partner, this was 25% and 28% respectively.

Retirement

Self-employed persons who are also employed as employees are slightly less likely to be unable to manage financially in the short term without the company income (15%) than those without a job as an employee (20%). In addition, older self-employed persons entitled to pension have a state pension and a possible supplementary pension, so that they always have some income.

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