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Impact of downturn on freelancers' workloads is limited, says new study

The current economic downturn has had a limited impact on work levels for the majority of freelance workers, according to the results of a new survey.

The study by FreeAgentCentral, a firm which supplies accountancy tools to freelancers, looked at how freelancers across a range of industries, including journalism and the media, are faring in the credit crunch.

More than two thirds of the 535 respondents said work levels had: not been affected at all (31 per cent); had slowed a bit (28 per cent) or had increased (8 per cent).

Thirty-eight per cent of participants anticipated a drop in earnings next year, but 31 per cent predicted the same and 26 per cent suggested they would improve.

Attitudes to the future of freelancing were evenly distributed between 'planning to grit your teeth and get on with it (49 per cent)' and those who were optimistic (48 per cent), the survey suggested.

When broken down by industry sector, the results suggested that freelance journalists would be the worst affected by the downturn, behind IT & business consultants.

Comments from participants suggested that online work and commissions were not being reduced to the same extent as other kinds of work, because of the 'the efficiency of the web in promoting and communicating', the research said.

The report is the first in an annual series of publications on how changing financial conditions affect freelancers, small businesses and consultants.

The aggregated results of the study, which took place between April 20 and June 2, can be viewed at this link.

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freelance | economic downturn | freeagentcentral |

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