SJD Accountancy

Could half the workforce be self employed by 2020?

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A study released this week has predicted that the ongoing increase in the number of freelancers will continue for the foreseeable future, leading to half the UK’s workforce being engaged in some kind of self-employed work by 2020. The study, entitled ‘The Evolution of the On-demand Economy’ was conducted on behalf of Peopleperhour and confirmed that the self-employed labour market is continuing to grow at a rate which far exceeds that of any other sector.

A study released this week has predicted that the ongoing increase in the number of freelancers will continue for the foreseeable future, leading to half the UK’s workforce being engaged in some kind of self-employed work by 2020. The study, entitled ‘The Evolution of the On-demand Economy’ was conducted on behalf of Peopleperhour and confirmed that the self-employed labour market is continuing to grow at a rate which far exceeds that of any other sector.

If the current trend continues at the same rate that it has over recent years, then half the working population could be working as a freelancer in some capacity by the year 2020. The study also showed that the increasing availability of freelancers, contractors and other short-term employees could be saving small and medium-sized businesses in the UK as much as £6,297 a year each. With so many specialists available, small businesses are now able to take advantage of the rising availability of the freelance workforce.

The number of people who will be using the self-assessment tax system is also on the rise, so those who are putting pressure on the government to reform the way tax is administered have an additional incentive behind their campaign. The various suggestions of ways to make the system more user-friendly are taking the likely increase in the numbers of people who will be using the self-assessment system into account in order to make any changes realistic from a staffing and resources perspective.

The results of the study confirm other recent reports which show that many people begin their freelance careers by working as a freelancer alongside their permanent role, and shows that awareness of the importance of independent professionals to the UK economy is being recognised. If you are considering becoming a contractor, freelancer or other independent professional, then you will probably have a lot of questions.

Our contractor case studies can give you plenty of insight into what life might be like once you take the plunge, and our take home pay calculator could help you to determine what your earning power could be when you are working for yourself. Anyone who wants the reassurance of knowing that their finances are taken care of will be glad to know that our friendly team have plenty of experience helping independent professionals to save time and money. For more details, call us on 01442 330223 or email lisa.wood@sjdaccountancy.com

For all other news please visit our Contractor News hub, or why not join us on Facebook and follow us on Google+ for all the latest contractor news, views, debates and competitions.

If the current trend continues at the same rate that it has over recent years, then half the working population could be working as a freelancer in some capacity by the year 2020. The study also showed that the increasing availability of freelancers, contractors and other short-term employees could be saving small and medium-sized businesses in the UK as much as £6,297 a year each.

With so many specialists available, small businesses are now able to take advantage of the rising availability of the freelance workforce. The number of people who will be using the self-assessment tax system is also on the rise, so those who are putting pressure on the government to reform the way tax is administered have an additional incentive behind their campaign. The various suggestions of ways to make the system more user-friendly are taking the likely increase in the numbers of people who will be using the self-assessment system into account in order to make any changes realistic from a staffing and resources perspective.

The results of the study confirm other recent reports which show that many people begin their freelance careers by working as a freelancer alongside their permanent role, and shows that awareness of the importance of independent professionals to the UK economy is being recognised.

If you are considering becoming a contractor, freelancer or other independent professional, then you will probably have a lot of questions. Our contractor case studies can give you plenty of insight into what life might be like once you take the plunge, and our take home pay calculator could help you to determine what your earning power could be when you are working for yourself.

Anyone who wants the reassurance of knowing that their finances are taken care of will be glad to know that our friendly team have plenty of experience helping independent professionals to save time and money. For more details, call us on 01442 275789 or email newbusiness@sjdaccountancy.com.

For all other news please visit our Contractor News hub, or why not join us on Facebook and follow us on Google+ for all the latest contractor news, views, debates and competitions.

 

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