Three in 10 property professionals say late payments are the biggest threat to their business, survey reveals

Three in 10 (28.7%) self-employed property professionals said late or non-payment from clients is the biggest threat to their business, according to a new survey from The Accountancy Partnership.

Rising energy bills, finding consistent work and software costs were also listed as concerns.

Pricing and fees were the most common reason property businesses lose clients, with more than two in five (44.7%) citing this, while more than a quarter (26.6%) said poor communication or service is an issue.

61.7% said they had experienced increased stress or anxiety, and about one in six (16%) are working longer hours than normal. 

More than half (53.2%) said the challenges of the past year made them consider moving to an employed role. 

73.4% said unpaid work is expected or becoming more common in the industry.

Despite this, three quarters (74.5%) said they are confident they will match or exceed last year’s profit, and 77.6% feel secure about their financial future over the next 12 months. 

Respondents cited better work-life balance (31.9%), flexibility around family responsibilities (25.5%) and not having a manager (21.3%) as the best things about being self-employed.