70% of freelance workers anticipate boom in business in 2014

New statistics have shown that 70.1% of freelancers anticipate an improvement in the economy over the coming year. The data comes from a new survey by the PCG which measures the business confidence of contractors, freelancers, and independent professionals.

The survey also highlighted that 33.5% of independent professionals anticipate their business being better off in 2014, in contrast to the 11.9% who stated that it would be worse off. Furthermore, 52.2% expect the opportunities for contracts to increase in 2014.

It was noted that the current average daily revenue for a freelancer is around £500 per day, however 77.5% of respondents reported no change in their fees over the past three months, with only 11.8% reporting an increase in the last quarter, and 10.7% reporting an actual decrease. These statistics are in keeping with the stunted wage growth seen across the rest of the UK economy, where wages have not kept pace with the rate of inflation.

However, freelancers remain optimistic, with 26.7% of respondents noting that they anticipate their rates to increase, in comparison with the 10.2% who believed that they would decrease.

Ben Dunn, Finance Director at JSA Services comments, “These statistics show the burgeoning optimism in the freelance sector. Contractors believe that the economy is moving in the right direction, and that they are well positioned to take advantage with more opportunities and increased rates of pay. All in all, the data is a very positive sign for this sector.”

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