Inflation is expected to affect four out of ten self-employed

Inflation is expected to affect four out of ten self-employed ...

According to statistics from the ATA self-employed group, the current socioeconomic imbalance is strengthened by the self-employed, who are more susceptible to changes because their businesses are usually smaller and thus more susceptible to change.

According to figures from the I Hiscox Report on Small Businesses and the Self-employed in Spain, the difficulties that the self-employed professionals are facing have been reinforced in the second half of 2022.

Inflation has triggered different problems in the Spanish self-employed; 55.6% declare that they expect an increase in their manufacturing costs, and another 38.8% direct anticipate that they will have to deal with your business due to the general price rise.

Among the professionals is that 38% expect their income to decline in 2023, 37% expect their income to remain stable, and 27.6% are optimistic and believe that their income Will improve in this new year. Among the drawbacks, 38% expect their profit margin to decrease in 2023, 34% that it will remain stable, and 25% that they will improve in the next year.

Although the financial situation has a significant influence on the self-employed, there are other factors that may be affected, such as geopolitical instability. In this way, 29% acknowledge that they may be quite or somewhat affected by these circumstances, 35% that they may be somewhat affected, and 32% that they may be affected at some extent.

Other factors, such as technological advances, have a significant impact on the self-employed, and 32% of those surveyed by the insurer believe themselves to be quite or very affected by this issue. In addition, 26% admit to feeling quite or very affected by the issue of scarcity of resources and concern for climate change, although it is only present in 15.5% of those who work.

"The self-employed group has always shown a remarkable degree of adaptability in the face of difficulties, but that does not mean that they should not assist in establishing an environment that facilitates these adjustments," says Ricardo Sánchez, the director of Hiscox Spain's innovation and alternative distribution division.

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