Freelancers add £109 billion to UK economy | RBS Invoice Finance

Freelancers add £109 billion to the UK economy

Freelance and contract workers in the UK contributed around £109 billion to the economy in 2015, according to the International Business Times.

The recent data was compiled and published by the Association of Independent Professionals and the Self Employed (IPSE). The organisation stated that the £109 billion figure was a conservative estimate, and believe that the actual figure is much higher in real terms.

Regarding the number of freelance workers in the UK, IPSE estimated this to stand at 1.91 million last year, a 36% leap from 1.65 million figure recorded in 2008. As it stands, freelancers and contract workers make up around six per cent of the entire UK workforce.

Chris Bryce, the chief executive of IPSE

"Large firms, and increasingly, SMEs are tapping into this growing pool of independent workers who are available on demand, with the specialist skills to hit the ground running. There are few signs of the growth in freelancing slowing down any time soon." 

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