Pandemic effects on self employed

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Pandemic hits self-employed women harder than menSelf-employed women lost around 20% of their income during the course of the pandemic, while self-employed men saw their income take an 11% hit, a survey by insurance provider Superscript has found. The poll of 2,015 sole-traders, freelancers and micro-business owners reveals that, for those whose income was affected by the pandemic, a drop in demand for products and services was the primary reason. As well as showing a gender gap in the financial impact of the coronavirus crisis, the research found that women saw a steeper drop in mental wellbeing linked to lost income, with 53% reporting a decline compared to 38% of men. Cameron Shearer, co-founder of SME insurer Superscript, said: “Self-employed women have been disproportionately impacted, which illustrates that society still has a way to go to encourage female entrepreneurship”.

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