The impacts of Brexit on UK employees and freelancers are quite significant. According to estimates, freelancers have been contributing £300 billion each year to the UK economy and that figure is expected to grow in the coming years.
With that being said, Brexit could affect them in three ways:
Questionable Income Security- for any freelancer, income security is always a concern, even if in the best of times. Until its full implementation, we won’t know what Brexit could bring to the freelancing market in the UK. Deals with EU countries could be favourable or unfavourable, so it’s can be a scary situation for many of today’s freelancers.
Opportunities- Brexit could actually be a boon for many freelancers in the UK. EU workers could be compelled to return to their home countries due to the imposed restrictions by the UK government. The uncertain conditions due to COVID-19 pandemic and Brexit deals could also encourage business owners to outsource, instead of hiring employees. In uncertain situations, freelancers could gain more opportunities.
Tax- freelancers who are UK citizens will still pay the same amount of VAT but importing goods and services could be more expensive. After Brexit’s full implementation, VAT rules for UK freelancers with clients in EU countries could change drastically.
How PaidWork Can Help
Among the many platforms available, freelancers can use PaidWork to find new clients and participate in projects. Here are some ways that PaidWork could alleviate many of the problems caused by Brexit:
Choose Any Client Or Project- depending on the nature of the industry and current regulations, it is probably better to choose local clients or projects. Some freelancers could be less affected by Brexit than others, so they can still choose clients from EU or other regions. PaidWork makes it easy to find clients or types of work based on personal requirements.
Location Flexibility- freelancers can choose any location they want. Some freelancers are city-bound, while others are willing to travel between cities. Choosing the location and time to work can be an immense advantage for today’s freelancers.
More Exposure- for freelancers who struggle due to the impact of Brexit, PaidWork could give them market exposure. Potential clients could interact with freelancers using the PaidWork platform. The ability to gain new clients and projects would depend on skill level, experience, and interpersonal skills.
Earn More- in the end, freelancers want to earn more, regardless of the current situations. With the ability to earn more, freelancers can ensure income security. PaidWork can help freelancers in the UK to find more work and increase their revenue.
To learn more ways to stay productive when working from home in times of COVID-19, contact PaidWork today.
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