Over-50s lead freelance boom

Here at Guildfordaccountants Sherwin Currid, we read with interest a report about a rise in UK freelancers. A study has discovered that there are more new freelancers in the over 50s segment. The people in this demographic number over two thirds of new freelancers, and the rise took place between the first quarter of 2008 and the final quarter of 2013.

It has long been assumed that freelancers are young workers. However, young people may not have the resources to start their own companies, or the on the job expertise that many clients seek when hiring workers. While this gives a glimmer of hope to people who find themselves out of work as they reach retirement, it underscores the dire situation that young people face today. Only around 5 per cent of 18 to 24 year olds are self-employed, compared to more than a third of those aged 65 and above.

In other news, some people have called for greater protection for freelancers (of all age demographics), while noting that current unions may not be able to adequately represent these workers. For instance, it would be very difficult to arrange a strike among freelancers, especially if they were spread among several unions.

The need for some kind of representation of freelancers' rights becomes more urgent amid predictions that the self-employed will soon be a larger group than civil servants. One commentator, freelancer Joel Dullroy, noted the vulnerability of freelancer workers to the same pressures that affect paid employees, and it certainly seems that freelancers could be at a greater risk of financial insecurity. Having a special body that could negotiate better working conditions specifically for freelancers would take into account their particular needs, and produce a united front for collective bargaining.

Of course at our Guildford accountants, we are always open to the concerns of freelancers, and we are happy to discuss any financial worries that you might have.

Editor’s Note: Sherwin Currid (http://www.sherwincurrid.com/) are represented by the search engine advertising and digital marketing specialists Jumping Spider Media. Email: info@jumpingspidermedia.co.uk or call: +44 (0)20 3070 1959 / +34 952 783 637.