Are Freelancers Feeling the Effects of Brexit?

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A recent study has revealed that over two-thirds of freelancers expressed massive concerns about the economy. Sixty-nine per cent of freelancers asked predicted a major slowdown in the economy in the next 2 years.

The research carried out by the Association of Independent Professionals and the Self Employed, (IPSE), suggests that over the next 12 months, just 19 per cent of freelancers’ express confidence in their businesses performance. Alarmingly, over half of all respondents said confidence in their business for the next 12 months has decreased.

A striking 92 per cent of freelancers expect their business costs to increase over the next year, an indication that Brexit is making British freelancers nervous about their future solo careers. With just four per cent expecting them to fall.

As mentioned about, this is predicted to be driven by Brexit and government policy, the confidence of the UK’s two million freelancers has plummeted to the lowest level on record, according to research. Many are now seeking out freelancer insurance, as a safety precaution should their incomes not tide them over in coming months, with a particular increase in those seeking media insurance.

Freelancers are also attributing their concerns to government policy relating to taxation and regulatory constraints as the main factors behind their sinking confidence in the freelance business sector. Are you a freelancer? Do you share the sentiments suggested by this study? Comment below…

Do you share the sentiments suggested by this study? Comment below…

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