By Daniel Hunter
Freelancers are cautiously optimistic for 2015, with the number of contracts expected to grow, according to new research from the Association of Independent Professionals and the Self Employed (IPSE).
The survey found that despite the political uncertainty ahead of May’s general election, business performance for freelancers accelerated in Q4 2014 with an increase in quarterly income of 7.4% on the previous quarter.
Suneeta Johal, Research Manager at IPSE and co-author of The Freelancer Confidence Index, said: “The survey shows a strong end to 2014 with freelance businesses performing well. The results suggest the number of contracts will continue to grow and capacity for freelancers will increase as demand for services rises.
“However, business confidence among freelancers has fallen and the general perception is the economy will perform only marginally better in 2015, although their own businesses will remain stable. Nearly half of the respondents expect there will be no change in revenue and over half expect input costs to rise over the next twelve months.”
Key findings from the Freelancer Confidence Index:
• Overall, business confidence amongst freelancers is cautious for 2015 which could be due to additional factors such as uncertainty around the General Election
• Business performance for freelancers accelerated in quarter 4 of 2014 with quarterly income increasing by 7.4% on the previous quarter
• The number of freelancer contracts is continuing to grow with momentum
• Over half (51%) of freelancers expect their input costs to rise over the next 12 months
• Revenue for IPSE members was varied in 2014 and 45.7% of respondents expect no change in the year ahead. 30.2% of respondents expect an increase in revenue throughout 2015, whereas 24.2% anticipate a decrease
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