Increased Confidence in Business and Economy Among Freelancers

More freelancers than ever are reporting an increase in work with ‘record numbers’ currently employed

Increased Confidence in Business and Economy Among Freelancers

UK freelancers are optimistic about future prospects with business confidence for the next three months up 3.95 to 9.42 and rising from 0.6 to 7.19 over the next 12 months, according to the latest Freelancer Confidence Index published by the Association of Independent Professionals and the Self Employed (IPSE).

The survey, which featured over 1,000 freelancers, revealed freelancers are also confident about the economy with confidence rising from 5.7 to 16.48 over the next quarter, and 4.75 to 18.05 over the coming year.

This rise in confidence, which had slumped in the previous quarter, is believed to be a result of an increase in work volume and day rates as more self-employed individuals (38%) are reporting a growth in the volume of work accepted.

Moreover, the survey found a record number of freelancers in work with 87% of respondents under contract at the time of the survey.

In addition, there search found that freelancers continue to earn more than a typical employee with average quarterly earnings of £30,000, approximately 20% more than what employees earn annually. Country manager for Elance-oDesk UK, Hayley Conick, commented on the index’s results:

“Business confidence is clearly on the up. Over 60% of freelancers who have worked for their clients via Elance-oDesk expect their revenues to increase in the next 12 months.

“With a third of freelancers experiencing a growth in work volume over the last three months, the general outlook is very positive indeed.”

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