Yes
1.6k resp.
99.6%
No
6 resp.
0.4%
OK, we'll start with a few easy questions about you and your business.
Are you a self-employed worker, freelancer or small business owner?
1618 out of 1620 answered
How many people work in your business?
1552 out of 1620 answered
It's just me!
914 resp.
58.9%
2 people (me and someone else)
399 resp.
25.7%
3-5 people
166 resp.
10.7%
6-10 people
51 resp.
3.3%
11-20 people
18 resp.
1.2%
More than 20 people
4 resp.
0.3%
How old are you?
1590 out of 1620 answered
51-60
536 resp.
33.7%
41-50
464 resp.
29.2%
31-40
281 resp.
17.7%
61-70
211 resp.
13.3%
21-30
55 resp.
3.5%
Over 70
43 resp.
2.7%
20 or under
0 resp.
0%
What is your gender?
1574 out of 1620 answered
Male
985 resp.
62.6%
Female
576 resp.
36.6%
I'd prefer not to say
8 resp.
0.5%
Other
5 resp.
0.3%
Where is your business located?
1591 out of 1620 answered
South East
312 resp.
19.6%
London
231 resp.
14.5%
South West
198 resp.
12.4%
Scotland
179 resp.
11.3%
North West
151 resp.
9.5%
East of England
115 resp.
7.2%
East Midlands
101 resp.
6.3%
West Midlands
96 resp.
6%
Yorkshire and the Humber
83 resp.
5.2%
Wales
65 resp.
4.1%
North East
35 resp.
2.2%
Northern Ireland
17 resp.
1.1%
Outside the UK
3 resp.
0.2%
Other
5 resp.
0.3%
Which industry/sector does your business operate in?
1548 out of 1620 answered
Business/Management Consultancy
217 resp.
14%
Construction & Engineering
140 resp.
9%
Creative Services
129 resp.
8.3%
IT Services
124 resp.
8%
Health, Wellness & Fitness
108 resp.
7%
Retail (Online & High Street)
74 resp.
4.8%
Advertising & Marketing
65 resp.
4.2%
Food & Beverage
56 resp.
3.6%
Real Estate
56 resp.
3.6%
Accounting & Legal
48 resp.
3.1%
Software Engineering & Development
38 resp.
2.5%
Film & TV
31 resp.
2%
Web Design
31 resp.
2%
Architecture & Planning
24 resp.
1.6%
Photography
20 resp.
1.3%
Fashion & Apparel
14 resp.
0.9%
Biotechnology
5 resp.
0.3%
Other
368 resp.
23.8%
Are you currently a FreeAgent user?
1598 out of 1620 answered
Yes
1.6k resp.
99.2%
No
12 resp.
0.8%
Before using FreeAgent, what method did you use for managing your business bookkeeping/accounting?
1572 out of 1620 answered
I've been using FreeAgent since I started my business
681 resp.
43.3%
Spreadsheets
480 resp.
30.5%
Other cloud accounting software
132 resp.
8.4%
Pen and paper/ledger
107 resp.
6.8%
Desktop accounting software
93 resp.
5.9%
I outsourced it
57 resp.
3.6%
Other
22 resp.
1.4%
Do you think FreeAgent has made you more confident about your business finances compared to your previous method of managing them?
1588 out of 1620 answered
Yes
1.1k resp.
67.6%
Not applicable - I started using FreeAgent when I set up my business
374 resp.
23.6%
No
63 resp.
4%
I don't know
39 resp.
2.5%
I haven't been using FreeAgent long enough to notice a difference
39 resp.
2.5%
Do you think FreeAgent has made you more informed and more confident about your tax liabilities compared to your previous bookkeeping method?
1579 out of 1620 answered
Yes
954 resp.
60.4%
Not applicable - I started using FreeAgent when I set up my business
400 resp.
25.3%
No
117 resp.
7.4%
I don't know
60 resp.
3.8%
I haven't been using FreeAgent long enough to notice a difference
48 resp.
3%
Do you use the services of a professional accountant and/or bookkeeper?
1605 out of 1620 answered
Yes - I use the services of an accountant
900 resp.
56.1%
No - and I have no plans to do so
284 resp.
17.7%
No - but I may consider doing so in the future
231 resp.
14.4%
Not at the moment - but I have in the past
143 resp.
8.9%
Yes - I use the services of an accountant and a bookkeeper
29 resp.
1.8%
Yes - I use the services of a bookkeeper
18 resp.
1.1%
Has working with your accountant/bookkeeper helped you run your business more effectively than you did before?
940 out of 1620 answered
Yes
437 resp.
46.5%
Not applicable - I started working with my accountant/bookkeeper when I first set up my business
351 resp.
37.3%
No
60 resp.
6.4%
I don't know
54 resp.
5.7%
I haven't been working with them long enough to notice a difference
38 resp.
4%
What are the most important or valuable services that your accountant/bookkeeper provides to your business?
941 out of 1620 answered
Completing/submitting VAT returns, tax returns and accounts to the right authorities at the right time
634 resp.
67.4%
Dealing with HMRC on my behalf
482 resp.
51.2%
Reviewing my books and checking for mistakes
347 resp.
36.9%
Providing proactive business and/or personal tax advice
328 resp.
34.9%
Registering my business with the relevant authorities
267 resp.
28.4%
Maintaining my day-to-day bookkeeping
66 resp.
7%
Recommending other financial advisors or service providers, such as a bank or pensions advisor
37 resp.
3.9%
Other
45 resp.
4.8%
What services would you be interested in receiving from your accountant/bookkeeper in the future?
876 out of 1620 answered
More in-depth tax planning
404 resp.
46.1%
Completing and filing accounts and tax returns
326 resp.
37.2%
Business advice and coaching
298 resp.
34%
Recommendations and training on bookkeeping software
102 resp.
11.6%
Introductions to third parties such as financial advisors
100 resp.
11.4%
More bookkeeping services
89 resp.
10.2%
Audit services
83 resp.
9.5%
Credit control
50 resp.
5.7%
Other
62 resp.
7.1%
Why did you stop working with your accountant/bookkeeper?
142 out of 1620 answered
I wanted to do all of my own accounting/bookkeeping
57 resp.
40.1%
My business circumstances changed and I no longer required their services
32 resp.
22.5%
I couldn’t afford to work with them anymore
24 resp.
16.9%
I found them too confusing and/or unhelpful
8 resp.
5.6%
I found it hard to deal with them personally
5 resp.
3.5%
They wouldn’t use the technology that I wanted them to
3 resp.
2.1%
Other
13 resp.
9.2%
How would you go about searching for an accountant or bookkeeper if you decided to use one?
229 out of 1620 answered
Seek a recommendation from a friend
93 resp.
40.6%
Seek a recommendation from another business
54 resp.
23.6%
Look at FreeAgent’s database of accountants
40 resp.
17.5%
I don't know
14 resp.
6.1%
Read online reviews like Trustpilot or Google Reviews
10 resp.
4.4%
Use an internet search engine like Google
10 resp.
4.4%
Consult the local newspaper/media
1 resp.
0.4%
Look at another online database/resource
0 resp.
0%
Other
7 resp.
3.1%
OK, that's great!
The first big issue that we'd like to ask you about is the current state of the UK economy and the General Election that is likely to take place this year.
How do you think your business will perform over the next 12 months?
1596 out of 1620 answered
I think my business will perform about the same as it has over the past 12 months
772 resp.
48.4%
I think my business will do better than it has over the past 12 months
485 resp.
30.4%
I think my business will do worse than it has over the past 12 months
202 resp.
12.7%
I don't know
96 resp.
6%
I think I may have to close my business within the next 12 months
41 resp.
2.6%
How do you think the economy will perform over the next year - compared with the past 12 months?
1567 out of 1620 answered
I think there will be little/no change to how the economy performs
602 resp.
38.4%
I think the economy will perform better than it has over the past 12 months
420 resp.
26.8%
I think the economy will perform worse than it has over the past 12 months
404 resp.
25.8%
I don't know
141 resp.
9%
Looking at the forthcoming General Election, do you feel adequately informed about the different political parties' policies and their potential impact on small businesses?
1591 out of 1620 answered
No, I do not feel informed at all
826 resp.
51.9%
Yes, I feel somewhat informed
444 resp.
27.9%
Yes, I feel informed about all of them
239 resp.
15%
I don't know
82 resp.
5.2%
Which of the following pieces of legislation would you like to see enacted by the political party that wins the next General Election?
1572 out of 1620 answered
Lowering of business taxes for freelancers and small businesses
1.1k resp.
69.3%
A greater crackdown on tax evasion/avoidance by multinational businesses
867 resp.
55.2%
Introduction of more statutory protection for self-employed (e.g. pensions, sick leave, maternity pay)
614 resp.
39.1%
More financial aid/incentives for people starting a business
511 resp.
32.5%
Scrapping IR35 - or 'off-payroll' - legislation
448 resp.
28.5%
Additional financial aid to help businesses through the cost of living crisis
330 resp.
21%
The abolition of VAT
322 resp.
20.5%
Greater pressure on banks to lend to small businesses
289 resp.
18.4%
More/better mental health services for the self-employed
282 resp.
17.9%
New government-run business advisory services
203 resp.
12.9%
None of the above
27 resp.
1.7%
Other
73 resp.
4.6%
Do you think that simple business and financial skills should be taught as part of the school curriculum to help create the next generation of entrepreneurs and small business owners?
1604 out of 1620 answered
Yes
1.5k resp.
93.6%
I don't know
58 resp.
3.6%
No
44 resp.
2.7%
Which of the following do you think will be important in helping your business over the next 12 months?
1561 out of 1620 answered
Keeping on top of cashflow/cashflow forecasting
826 resp.
52.9%
Expanding into new products or revenue streams
556 resp.
35.6%
Reducing business overheads
537 resp.
34.4%
Getting paid faster
396 resp.
25.4%
Investing in new technology/software
287 resp.
18.4%
Exploring new domestic and/or international markets
272 resp.
17.4%
Support or guidance from an accountant/bookkeeper
268 resp.
17.2%
Sourcing new finance/funding
210 resp.
13.5%
Support or guidance from other business experts (e.g. financial planning, legal advice etc.)
197 resp.
12.6%
None of the above
138 resp.
8.8%
Better availability of supplies/stock
116 resp.
7.4%
Other
50 resp.
3.2%
To what extent does your business feel vulnerable to disruptions in global trade and supply chains due to current geopolitical tensions?
1602 out of 1620 answered
It doesn’t feel particularly vulnerable
471 resp.
29.4%
N/A - this doesn't impact my business
407 resp.
25.4%
It feels somewhat vulnerable
387 resp.
24.2%
It doesn’t feel vulnerable at all
184 resp.
11.5%
It feels significantly vulnerable
99 resp.
6.2%
I don't know
54 resp.
3.4%
Within the past six months, have you experienced delays in receiving essential supplies or shipments due to supply chain issues?
1554 out of 1620 answered
No
1.2k resp.
79.9%
Yes
269 resp.
17.3%
I don't know
43 resp.
2.8%
How much of a financial impact has there been for your business as a result of ongoing strikes, industrial action and supply chain issues?
1590 out of 1620 answered
My business has not been impacted at all
774 resp.
48.7%
My business has not been particularly impacted
484 resp.
30.4%
My business has been somewhat impacted
236 resp.
14.8%
I don't know
49 resp.
3.1%
My business has been significantly impacted
47 resp.
3%
Great! Next we’d like to ask you about an issue that impacts many small businesses in the UK - late payment.
What is the longest you’ve ever waited to get paid by a client?
1582 out of 1620 answered
1-3 months
495 resp.
31.3%
3-6 months
264 resp.
16.7%
Less than a month
263 resp.
16.6%
6-12 months
152 resp.
9.6%
I’ve had a client/clients that have never paid me at all
121 resp.
7.6%
I’ve never had a late-paying client
101 resp.
6.4%
Not relevant - this does not apply to my business
86 resp.
5.4%
12-24 months
71 resp.
4.5%
More than 24 months
29 resp.
1.8%
What is the largest amount you’ve ever had to write off from your accounts due to a late or non-paying client?
1407 out of 1620 answered
I’ve never had to write off any money due to a late or non-paying client
675 resp.
48%
£101-£500
182 resp.
12.9%
£1001-£5000
173 resp.
12.3%
Less than £100
129 resp.
9.2%
£501-£1000
109 resp.
7.7%
Not relevant - this does not apply to my business
53 resp.
3.8%
£5001-£10,000
43 resp.
3.1%
£10,001-£20,000
22 resp.
1.6%
More than £20,000
21 resp.
1.5%
Have you ever felt that the future of your business was in jeopardy because a client, or clients, did not pay you promptly?
1411 out of 1620 answered
No
1k resp.
72.5%
Yes
347 resp.
24.6%
I don't know
41 resp.
2.9%
Have you ever had to take legal action against a client because they didn’t/wouldn’t pay you?
1405 out of 1620 answered
No - I've never needed to
855 resp.
60.9%
No - but I've wanted to
387 resp.
27.5%
Yes
163 resp.
11.6%
Are you aware of the Prompt Payment Code (PPC)?
1594 out of 1620 answered
No
1k resp.
64.4%
I've heard of it, but I don't really understand what it is
297 resp.
18.6%
Yes
236 resp.
14.8%
I don't know
35 resp.
2.2%
At the moment, the Prompt Payment Code is a voluntary code of practice that businesses can choose to sign up to in order to pay their clients on time.
Would you be in favour of making the PPC mandatory?
1594 out of 1620 answered
Yes - I think it should be mandatory for all businesses
736 resp.
46.2%
Yes - but I think it should only be mandatory for large businesses (for example, those with 250 employees or more)
266 resp.
16.7%
No - it shouldn’t be mandatory, but more businesses should be encouraged to sign up
262 resp.
16.4%
I don't know
258 resp.
16.2%
No - I don’t think any changes are required at all
58 resp.
3.6%
Other
14 resp.
0.9%
Do you think there should be additional powers given to the Small Business Commissioner to take action against companies that have signed up to the Prompt Payment Code but do not adhere to it?
1591 out of 1620 answered
Yes
882 resp.
55.4%
I didn't know there was a Small Business Commissioner
421 resp.
26.5%
I don't know
251 resp.
15.8%
No
35 resp.
2.2%
Other
2 resp.
0.1%
Almost there! Lastly, we'd like to ask a few more quick questions about your business.
Do you currently use any artificial intelligence (AI) in your business?
1598 out of 1620 answered
No
1.1k resp.
68.8%
Yes
478 resp.
29.9%
I don't know
20 resp.
1.3%
How confident do you feel that you are using AI to its full potential?
476 out of 1620 answered
Somewhat confident
189 resp.
39.7%
Not particularly confident
180 resp.
37.8%
Not confident at all
56 resp.
11.8%
Very confident
43 resp.
9%
I don't know
8 resp.
1.7%
In which areas of your business would you consider using AI in the future?
1578 out of 1620 answered
Marketing/copywriting
642 resp.
40.7%
Data analysis
507 resp.
32.1%
None of the above
495 resp.
31.4%
PR/Media
409 resp.
25.9%
Financial admin
396 resp.
25.1%
Digital personal assistants
392 resp.
24.8%
Project management
284 resp.
18%
Cybersecurity
234 resp.
14.8%
Dealing with customers
203 resp.
12.9%
Logistics management
107 resp.
6.8%
Self-driving vehicles
99 resp.
6.3%
Facilities or office management
80 resp.
5.1%
Other
35 resp.
2.2%
How many hours do you personally work in your business during a typical week?
1599 out of 1620 answered
32-48 hours
597 resp.
37.3%
16-32 hours
385 resp.
24.1%
48-64 hours
290 resp.
18.1%
0-16 hours
252 resp.
15.8%
More than 64 hours
75 resp.
4.7%
Has running your own business ever negatively impacted your mental or physical health?
1569 out of 1620 answered
No
726 resp.
46.3%
Yes - it has had a negative impact on my mental health
322 resp.
20.5%
Yes - it has had a negative impact on both my mental and physical health
319 resp.
20.3%
Yes - it has had a negative impact on my physical health
117 resp.
7.5%
I don't know
85 resp.
5.4%
Has running your own business ever positively impacted your mental or physical health?
1583 out of 1620 answered
Yes - it has had a positive impact on my mental health
668 resp.
42.2%
Yes - it has had a positive impact on both my mental and physical health
393 resp.
24.8%
No
310 resp.
19.6%
I don't know
115 resp.
7.3%
Yes - it has had a positive impact on my physical health
97 resp.
6.1%
As a business owner, have you ever worked through an illness because you felt you could not afford to take time off?
1596 out of 1620 answered
Yes
1.2k resp.
76.7%
No
372 resp.
23.3%
Do you feel that you have a good support network to turn to - either within or outside your business?
1593 out of 1620 answered
Yes
979 resp.
61.5%
No
469 resp.
29.4%
I don't know
145 resp.
9.1%
Are you planning to take a holiday (or holidays) this year?
1598 out of 1620 answered
Yes
1.2k resp.
77.5%
No
224 resp.
14%
I don't know
136 resp.
8.5%
Will you use your holiday time to take a complete break from your business, or will you still be working during it?
1232 out of 1620 answered
I plan to do some administrative tasks (like answering emails or doing my accounts) while on holiday, but not my full-time work
743 resp.
60.3%
I plan to take a complete break and not do any work at all while I am on holiday
389 resp.
31.6%
I plan to still do my full-time work even during my holiday time
52 resp.
4.2%
I don’t know
41 resp.
3.3%
Other
7 resp.
0.6%
Have you attended any events (e.g. seminars, trade shows or conferences) over the past 12 months to network or learn new skills?
1592 out of 1620 answered
No
876 resp.
55%
Yes
702 resp.
44.1%
I don't know
14 resp.
0.9%
Do you feel that you currently have a good work/life balance?
1596 out of 1620 answered
Yes
1.1k resp.
67.5%
No
424 resp.
26.6%
I don't know
95 resp.
6%
Finally, would you like to be entered into our draw to win a £250 John Lewis & Partners voucher?
1585 out of 1620 answered
Yes
1.6k resp.
99.3%
No
11 resp.
0.7%