There has been a 59 per cent rise in the number of freelancers in Greater London since 2008, according to research by IPSE, the Association of Independent Professionals and the Self Employed.
This totals to 159,200 more freelancers, a whopping figure that reflects that freelancing is growing in popularity in the UK. Freelancing and Contracting can carry more flexibility and independence than fixed term employment.
It can also enable you to build up a variety of experience as you can pick and choose what projects to undertake, and what projects to refuse.
Skills on Demand
One of the contributing factors to why freelancing is on the rise may be that freelancers offer ‘skills on demand’. This means that businesses can call for a freelancer to work on a short job, without having to opt for a fixed term employee.
Let’s put it into perspective, a local school in London may need some artwork painted onto their nursery walls. The job may take only a few days to complete so it would be appropriate to offer the job to a freelancer.
IPSE found that almost one in five of Greater London based freelancers work in artistic, literary and media professions.
They stated that ‘this occupational group is the largest of all freelancers in the UK, with London accounting for a quarter of all those working in these occupations.’
The Future of Freelancing
It’s safe to say that freelancing is on the rise and may be viewed as the attractive option for UK workers.
Last year, Forbes said that ‘the old economy (fixed employment) would lead you to believe that you should pick one job, work hard for the next 40 years at that company, and then retire.
‘Not the new economy (freelancing). The more diverse your skill set, the more opportunities come your way.’
To cater for the rise of the freelancer economy, an increasing number of services have been created with freelancers in mind, such as FreeAgent. The cloud-based, bookkeeping software is a clever tool for freelancers and contractors to help them manage their finances.
Gorilla Accounting offers an all-inclusive accountancy package for contractors and freelancers, this includes your membership with FreeAgent.
Did you know?
– Freelancers contributed £119 billion to the UK economy in 2016, this was an increase from £109 billion in 2015.
-Freelancers make up just less than half of the UK self-employed population which ranks at 4.8 million.
-London is the fastest growing region for freelancers in Great Britain.
Figures from IPSE report.
If you would like to find out more about Gorilla Accounting, or try a free demo of FreeAgent, call a member of our New Business Team on 0330 024 0406 or email email@example.com.