Six in ten self-employed 'unmoved by Brexit'

Most freelancers are not fretting about the impact of Brexit, with as many as 63% saying Britain's exit from the EU won't affect their one-person business.

Three times as many self-employed people have this unfazed view of what the UK no longer being an EU member will mean for their freelancing, than those who view it negatively.  

The latter group equates to only about one in five freelancers, so most take an "optimistic attitude" to any rub-off Brexit might have on their independent work, says Kensington Mortgages which commissioned research into 1,000 self-employed people.

But this upbeat feeling among freelancers does not extend to the economy as a whole. The majority (52%) told the specialist lender that they fear Brexit poses a "difficult future" for the UK overall.

And the same downbeat outlook engulfs their personal finance ambitions. In particular, 37% of freelancers believe Brexit will make it tougher for them to secure a home loan.

In terms of affecting the finances of the self-employed workforce as a whole, 36% considered Brexit to have a "negative effect", while only 20% viewed it as a 'good' thing.

Further implying freelancers to be both positive and negative as Brexit looms, Kensington said it also found that almost half (47%) of freelancers were "confident" about winning more work this year. Only 13% were not confident.

"[It's] a slightly mixed message", said the lender, referring to freelancers' neutral outlook on Brexit for their business, but their negative outlook on personal finance goals and the UK as a whole.

"[Freelancers are] relatively confident about their individual prospects and/or didn’t think that Brexit would significantly affect their business prospects...[but] still hinted at the struggle to secure finance for their property ambitions, and a significant number believed Brexit wouldn’t help their plight."


3rd June 2018

Related News

Latest News