• 20 Aug 2023
• Joshua Toovey

• Over half of freelancers (55%) believe their business costs to increase in the next 12 months
• Freelancers are working slightly more compared to last quarter, with spare capacity increasing from 3.2 weeks in Q4 2022 to 3.0 weeks this quarter
• Freelancers expect an average decrease of 12% in their day rates over the next 12 months.

Freelancers are still extremely concerned about their business costs rising in the next 12 months, as the cost of living crisis shows no signs of abating.

Similarly, despite working slightly more compared to last quarter, freelancers are now expecting an average decrease to their day rates over the next year; with the sector understandably concerned about a looming recession in the UK.

Concerningly, both freelancers’ confidence in their own businesses and the UK economy has decreased compared to last quarter.

 

Read the full report here