Self Employment/Freelancing Quiz

How do you come up with a good business idea?

• Do exactly what your competitors are doing

• Aim to meet a need or needs that aren't being met in the current market

• Always purchase goods at a low cost and sell them for significantly higher

• Keep changing your idea every 6 months

What is primary research?

• Using an online search tool to figure out what's currently popular

• Using past studies and industry journals to improve your idea

• Carrying out your own research e.g. observation or test marketing

• Researching investors that could support your business

What is an executive summary?

• A list of all the people you plan to employ in your business

• The last section of your business plan that includes further documents and resources

• The section of your business plan that explains finances

• The first section of your business plan that summarises key points

How many workers do you think are self-employed in the UK?

• 50 million people

• 1 million people

• 3 million people

• 5 million people

How much do self-employed people contribute to the UK economy?

• £400,000

• £275 billion

• £5 billion

• £50 million

When does the tax year start and end?

• September to July

• Jan 1st to Dec 31st

• 6th April to 5th April

• Christmas to Christmas

When you are self-employed you have to pay tax directly to the HMRC. What does HMRC stand for?

• Her Majesty's Royal Corgis

• Honourable Mum's running clubs

• Heavy metal real curses

• Her Majesty's Revenue & Customs

What is the average salary of the UK self-employed?

• £20,500

• £58,450

• £35,000

• £100,000

What percentage of freelancers say they work at weekends?

• 25%

• 10%

• 72%

• 59%

What percentage of people are self-employed who work in the media and film industries?

• 10%

• 50%

• 70%

• 34%