HomeWorkingClub survey showcases freelancers’ ability to cope with COVID second wave

There’s no disputing that the second wave of COVID-19 has struck the UK. It’s likely that we’ll see increasingly stringent lockdown measures coming into force over the days and weeks ahead if cases continue to spiral upward, and the government is once more encouraging remote working wherever possible.

Interestingly, a new survey from HomeWorkingClub has revealed that freelancers are particular well equipped to face the second wave – and not just because many already worked from home in the pre-COVID days.

According to the HomeWorkingClub survey, inconsistent income is by far the worst disadvantage of freelancing. However, freelancers are well positioned to be able to deal with their financial fluctuations. 45.39% report planning to work additional hours over the coming 12 months, as the impact of COVID continues to be felt.

Being able to work more hours to increase your income is an option that many remote employees do not have. However, some are clearly keen to do so, with 12.94% thinking of switching to freelancing in the next year, based on HomeWorkingClub’s data.

This is despite the fact that 51.06% of freelancers report their income has dropped over the last year, with just 18.44% reporting an increase. 43.53% of remote workers, on the other hand, have seen their income rise over the past 12 months, while just 32.94% reporting a decline.

It’s fair to assume that COVID-19 has played a role in so many freelancers experiencing a decrease in income. Despite this, they remain largely positive about the year ahead, with 65.96% telling HomeWorkingClub that they expect their income to go up (versus just 12.06% who believe it will go down).