The freelance sector will grow during 2015, according to new research by the Association of Independent Professionals and the Self Employed (IPSE).
The report shows that freelancers are optimistic about the year ahead, although potential challenges still remain regarding rising costs and uncertainties surrounding the general election.
The majority of freelancers (43%) expect to win more contracts over the next 12 months but more than half (57%) don’t think their daily rate of pay will increase. Almost half (46%) predict their overall revenue will stay the same.
The Freelance Confidence Index shows:
- 51% are predicting their costs to rise over the next 12 months
- 40% are optimistic that the economy will grow in 2015
- 24% believe their business will perform better in the next 12 months, while 54%think it remain the same.
The research also recorded that average income increased 7.4% between Q3 and Q4 2014.
Suneeta Johal, research manager at the IPSE, 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 12 months.”