The ongoing uncertainty over Brexit may have led to a fall in the confidence of British freelancers, reveals a new survey.
According to research from the Association of Independent Professionals and the Self-Employed (IPSE), there has been a sharp decline in confidence amongst contractors and freelancers over the last three months.
As well as Brexit, freelancers have seen a decline income, largely due to a substantial rise in business costs. In addition, those surveyed have reported a 17 per cent fall in quarterly earnings and daily rates.
“The freelance business sector has now moved into recession after two consecutive quarters of negative growth,” said the latest report from IPSE.
“Freelancers are seeing their business costs increasing and average day rates decreasing, which is causing problems within the workforce,” it added.
However, the sector has a whole remains upbeat compared to employed workers, with freelancers earning more than twice as much as their employed counterparts.
Brexit continued to feature heavily in freelancers’ concerns, with 60 per cent saying the ongoing uncertainty over the UK leaving the EU is undermining their confidence about future business.