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Half Of UK Workforce Could be Self-Employed by 2020

13 09.15

The ongoing trend for increased interest in working freelance could lead to 50 per cent of the country being self-employed by the year 2020. This is according to a new study, which looked into the future of freelancing in the UK.

Entitled The Evolution of the On-demand Economy, the report was put together for People Per Hour and it shows that the self-employed labour market is growing faster than any other. If this rate is sustained then half of the workforce will be freelancing in just five years’ time, it found.

In addition to this revelation, the study pointed out that the availability of freelancers, contractors and short-term employees of all kinds is proving beneficial to small and medium-sized businesses. In fact, this demographic of company could be saving as much as £6,297 a year through utilising this resource.