The 29th March deadline is fast approaching for leaving the EU. The government has already experienced a crushing defeat to their proposed Brexit deal. The options have now been reduced, possibly leading to a softer Brexit. The tables may turn if the parliament can agree a way forward, something it has so far been unable to accomplish, Britain could leave the EU with ‘no deal’ and this could affect many freelance jobs.

The clear majority of MPs are indeed against ‘no deal’, leaving people to believe that it will not happen. However, it is best for freelancers and the self-employed to reflect and prepare for ‘no deal’; should it happen.  

Photo by dylan nolte on Unsplash

Aside from all the Brexit technicalities, I was visiting my local bakery and noticed a Brexit breakfast deal this consisted of a coffee and a croissant for a very reasonable sum. I enjoyed my coffee and even more so the croissant; however, I started to contemplate about Brexit and how it could indeed affect the freelance community. That’s what got me intrigued; let’s explore more.

A no-deal scenario could indeed cause significant disruption to trade, travel and jobs in the immediate to short term. Brexit could also affect freelance jobs through pricing and the availability of work. It is likely that inflation could spike and be higher than anticipated on a more permanent basis. Inflation rates could rise to peaks of 6.5% forecasts The Bank of England. Adversely, a change in the pound could potentially make exports more profitable.

How will this affect the self-employed? Economic change is not always welcome especially as freelancers could feel the impact first. Freelance work is flexible allowing contracts to be issued and terminated with ease. If corporations find that a no deal Brexit causes restrictions for an extended period, it is likely that there will be a slowdown in hiring employees and taking on freelancers.

The current membership that the UK holds with the EU covers an expansive range of regulation and legal relationships. Negotiating a free trade agreement in line with Brexit could take several years.

Brexit is taking its toll on the UK, sectors in every quarter fell in 2018 due to uncertainty and how the deal has formed thus far. Political and economic uncertainty has played a big part in the growing concerns over Brexit; however, long-term detachment from the EU, the likely hood of increased inflation, a weaker pound and different tariffs on imports could prevent investment in the economy in the long-term.

Can a freelancer potentially benefit from Brexit? If a ‘no deal’ is struck the UK will be open to greater freedom allowing trade deals to forge with big markets around the world, such as Japan or the USA. Brexit could be extremely beneficial for freelancers working in financial services. Freelancers are naturally agile additions to a firm and help businesses navigate through an economic change such as, following Brexit.

Relocation is on the cards for many businesses out there including the creation of EU subsidiaries regardless of the outcome of Brexit. If there is a likely hood to economic disruption, this business decision could become more widespread. Large firms with existing establishments in Europe might not be affected by such changes in line with Brexit, and indeed contractors would retain their current posts. One significant alteration to a freelancer working in the EU will be the requirement of a visa; however, this has not been agreed between the EU and the UK.

Long sustaining uncertainty over the Brexit deal has potentially caused unfavourable conditions for freelance jobs. If a ‘no deal’ were to proceed this would disrupt the freelance jobs market over short, medium or long periods due to economic uncertainty. Freelance contractors might feel the pinch first; however, a no deal Brexit could increase the use of freelancers in the short term, allowing businesses to be adaptable to change.

If you are looking to reduce the effects of Brexit and advertise your services check out Skillbox a platform dedicated to freelance professionals.