Self-employed losing confidence in the lead up to Brexit

(2 minutes to read)

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The Association of Independent Professionals and the Self-Employed (IPSE) have released their report ‘Brexit Deal for the Self-Employed’

The recent data, which surveyed more than 1,000 contractors has revealed that the lead up to Brexit is having a negative impact on the UK’s self-employed sector.

For example, 81% of contractors expect their costs to increase during the lead up and 54% report that they have concerns with regards to the progress of the negotiations.

Chief Analyst of the Freelancer Confidence Index and Dean of Trinity Business School, Dublin, Professor Andrew Burke, commented, “Freelancers have historically been accurate predictors of wider economic performance. For this leading sector to see a fall in earnings – and actually enter a recession as it did in 2017 – should sound warning bells for the rest of the economy.

Chris Bryce, IPSE CEO, added, “If the ComRes poll is a reflection of the wider economy, we are in for a stormy Brexit. The record decline in the confidence of the vital self-employed sector should be a serious concern for the Government as it enters the final, decisive few months of the negotiations.

“Not only are the self-employed a good indicator for the rest of the economy, they also bring enormous benefits to it. In fact, the flexibility they provide is one of the UK economy’s most significant competitive advantages.

“As this report says, for the sake of this crucial sector, the Government must replace the uncertainty and turbulence we have seen recently with calm, clarity and confidence.”

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