Everybody hurts: Self-employment, financial concerns, mental distress, and well-being during COVID-19

Marcus T. Wolfe and Pankaj C. Patel

Journal of Business Venturing Insights, 2021, vol. 15, issue C

Abstract: Adopting an abductive approach, in this paper we use two studies to examine the relationships between financial worries and well-being amongst the self-employed during the time of the COVID-19 pandemic. In Study 1 of 4806 participants from the Understanding Society’s COVID-19 survey of the UK population, we find that financial worries were associated with higher mental distress for self-employed when facing reduced work hours. In Study 2, in a sample of 1794 participants from the six-country COVID study, we find that higher than expected fall in income mediates the association between self-employment and happiness. The findings have implications for research regarding financial worries, distress, and well-being of the self-employed.

Keywords: COVID-19; Financial worry; Mental distress; Self-employment (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jobuve:v:15:y:2021:i:c:s2352673421000093

DOI: 10.1016/j.jbvi.2021.e00231

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