In 2023, self-employed individuals in the UK’s wholesale, retail, and repair of motor vehicles and motorcycles sector spent a total of 528 million hours working. This figure is projected to decline steadily through 2028, with forecasts showing a reduction each year. Year-on-year variations reveal a gradual decrease: 2024 sees a drop of approximately 1.49%, 2025 follows with a 1.69% decrease, 2026 records a 1.63% decline, and 2027 posts a 1.58% reduction. A compound annual growth rate (CAGR) of -1.6% from 2024 to 2028 exemplifies the average downward trend over these years.
Future trends to watch for include the increasing influence of e-commerce on traditional retail, shifts in consumer behavior towards more sustainable and alternative transportation modes, and technological advancements in vehicle maintenance and repairs, which may further impact the self-employment landscape in this sector.
