Majority of freelancers satisfied with work-life balance

The majority (54%) of independent professionals say they are “satisfied” with the amount of annual leave they take, despite more than two-thirds (68%) taking less holiday time than a typical full-time employee.

That’s according to a new study by contractor services provider and approved TaxAssist Accountants partner, Qdos Contractor.

Qdos polled a selection of UK freelancers regarding their annual leave habits and found that around a third (32%) enjoy a minimum of 22 days away from their desk each year. While some full-time employees are fortunate enough to receive 28 days of paid annual leave, 22 days is still a typical figure for many full-time positions, meaning freelancers are still able to find an agreeable work-life balance.

Of those freelancers surveyed who were “unsatisfied” with the level of holiday time they give themselves, financial issues would appear to be the deciding factor for three-fifths (60%) of these instances. Meanwhile a fifth of “unsatisfied” respondents admitted to being “too busy” to take a break from their existing commitments, while a similar amount feared going on leave would place them at risk of “losing a contract”.

Seb Maley, CEO of Qdos Contractor, said: “That the majority of freelancers and contractors are happy with the amount of holiday they take each year [even though some take fewer holiday days than employees] reflects that independent workers are by and large enjoying a healthy work-life balance.

"That said, many freelancers understandably find taking time off difficult. From feeling the need to work when projects are available, to problems switching off, having the financial security and confidence to enjoy a well-earned rest is one of the most difficult aspects of self-employment.”

However, the freedom to pick and choose work and have full control of their creative output was one of the main reasons why new freelancers sought to work for themselves, according to another recent Qdos study.

A better work-life balance and the ability to undertake more of the work they enjoy would appear to far outweigh the cons of independent working.

Considering becoming self-employed? If you’re keen to set up your own business as a sole trader and offer a more personal approach to your potential customer base, your local TaxAssist Accountant can help make life simpler by handling all of your bookkeeping and accountancy tasks for a fixed fee.

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Date published 21 Sep 2017 | Last updated 21 Sep 2017