New Year, New Freelance Career? New data shows increase in searches for freelance finance services

For finance professionals looking to make the leap into self-employment, the moment might just have arrived. Insurance broker PolicyBee has uncovered that online searches for finance freelancers have increased over the last year, after experiencing a decrease in demand in 2018 and 2019.

So, while the pandemic has been an understandable challenge for most businesses, the freelance area of the finance industry seems to have benefitted. Searches for finance freelancers decreased by almost 10% between 2017 and 2019. However, the search figures for 2020 bucked this trend and in fact grew by 5.4% last year. Perhaps it is no surprise that these services are increasing in popularity as the commercial world becomes more digitally-focused in response to a global pandemic that is forcing people to stay home.

Indeed, it is no secret that covid-19 has driven businesses into allowing typically office-based staff more flexible, remote working practices that would historically have been reserved for freelancers. This shift has enabled otherwise traditional companies to trial a less restrictive working approach that may well have proven surprisingly successful. Equally, the economic uncertainty that the pandemic has brought with it will no doubt have steered some employers towards freelancers as a way of avoiding the bigger commitment of full-time employees.

Kerri-Ann Hockley, head of customer service at PolicyBee, commented: “With so much uncertainty across the job market at the moment, it is encouraging to see that 2020 brought increasing opportunities to be found in the finance sector if you are willing to take the plunge into freelancing. For those who do decide to go self-employed, it is important to ensure you do some basic preparation, making sure you have a plan to handle important areas such as the accounts and IT. It’s also important to protect yourself with adequate insurance. For example, professional indemnity insurance protects freelancers against allegations from clients that they have not carried out their job properly. In addition, office and property insurance covers the workplace and equipment you need to do your job, even if your office is your garden shed. Once you have everything in place, the only thing you need to worry about is what jobs you want to go for. Hopefully, with the freelance market growing, the world will be your oyster!”

For more information on insurance policies for freelancers visit https://www.policybee.co.uk/freelance-insurance

About Lisa Baker, Editor 2423 Articles
Lisa Baker is the Editor of Always Finance, and writes about Business, Finance Technology and Healthcare. Lisa is also the owner of Need to See IT Publishing.