The nation's 3.3m self-employed are the most asset rich in the country, claims Borro, with an average of £54,900 in belongings such as art, fast cars and jewellery.
The average sum of £54,900 per self-employed person stands in comparison to the average employee whose average personal assets total £42,800 and the retired whose average personal assets total £37,300.
Borro said it has seen a huge increase in the number of self-employed individuals taking out loans against their personal assets.
In the first quarter of this year the average loan value for this group has risen from £17,000 to £20,000.
The types of assets typically used by this customer base range from prestige cars to fine art and antiques, borrowing over an average loan period of four to five months.
Paul Aitken, CEO of borro, said: “Britain’s self-employed community is one of the key driving forces behind the nation’s economy, with many at the forefront of the earning scale when the economy was doing well.
“Clearly many have spent the fruits of their hard work during that time, so it should come as some comfort to them to realise they are sitting on a wealth of assets that can be utilised to access finance at a moment’s notice.”
