Despite the challenging economic times entrepreneurs are helping to guide the UK economy through these difficult times, as both freelancers fight back against the high unemployment rates and new start up business look set to boost the national GDP significantly.
As a result of unemployment in the UK steadily increasing, as well as the number of unemployed people currently being the highest since 1994, research has shown that a significant amount of people are turning to freelance work, in an attempt to earn money – an increase of 12% since 2008. With the number of freelancers and new business owners on the rise, amidst a struggling jobs market, the strong business spirit is helping us all to avoid a future recession, and to make the very best of a bad situation.
In the current challenging economic environment, businesses are keen to reduce fixed costs costs, often by reducing the number of fixed staff they employ, and are instead employing freelancers. With freelancers working on flexible, short-term contracts, they are paid on a per work basis and are therefore not paid for the times when they aren’t needed, helping to minimise overheads.
This has of course shaken up the freelance industry, with a large amount of work available from many different companies. Whether it be a large retail company looking for a web designer to design and host their website, or an office based company needing a professional to undertake some administrative duties, it seems that outsourcing is the way to go about it, with more outsourcing websites setting up each month.
With many of the websites offering payment and project management platforms, as well as a whole host of other support, it’s a hassle-free way for those with the right skills to earn a sole income, or to supplement their income.
Many people who have been made redundant now seek work through outsourcing websites, in order to continue earning money during a challenging economic time. The amount of people freelancing in this way shows that they’re actively fighting the economic environment, and boosting the UK economy at the same time.
Furthermore, a recent survey has suggested that Britain’s newest start-up businesses are set to add hundreds of millions of pounds to the national economy next year, with outsourcing being the concept that looks set to continue leading the way. The survey, commissioned by T-Mobile and carried out by the Henley Business School, estimated that technologically-focused small businesses launched in 2011 could generated a combined £360m for the UK economy in 2012, generating somewhere in the region of 70,000 jobs.
Outsourcing websites have made it easy for freelancers, from freelance web designers to freelance graphic designers, to find work, whilst also providing businesses with a cheaper alternative in getting their workload and business functions completed. Loren Holland, Managing Director of OutsourceMyProject said: “OutsourceMyProject provides a useful service to freelancers and UK businesses. Our website connects freelance professionals with businesses looking to outsource their workload, and provides them with a platform to manage and complete their jobs. We’ve noticed that sign-ups to the site have increased rapidly over the past 12 months, which is undoubtedly a sign of strengthening freelance marketplace.”