Edinburgh is one of the best locations for people to work in as a freelancer, according to a new survey.
Freelancing is popular with those adopting the lifestyle, with 60 per cent believing freelancing is a good career move
With the option of flexible hours, working from home and being your own boss, it’s no surprise that many are turning to freelancing instead of the traditional nine to five for income.
To help those looking to start out on their own, leading price comparison website MoneySuperMarket has conducted a study looking at the best locations in the UK to freelance, with Manchester top of the 22 city list. Edinburgh came third, after Manchester and Brighton.
The research looked into the number of existing freelancers in the area, the average rates they charge and the number of start-ups looking to utilise local freelancers. To assess the work-life balance of freelancers, the research also looked into local property costs, the number of Wi-Fi hotspots and coffee shops, as well as the general quality of life in the area.
The report notes the Scottish capital offers a chance for freelancers to thrive, with a high average hourly rate of £29.50 and a high life satisfaction score of 7.59 indicating the great quality of life Edinburgh has to offer.
Tom Flack, editor-in-chief at MoneySuperMarket said: ‘The freedom and flexibility of self-employment is clearly seductive enough to tempt people away from traditional jobs, but freelancers should remember that it also brings a lot of responsibility. Take accounting for tax – a freelancer has many tasks that a company employee doesn’t have to worry about
‘There’s also the management of personal finances. A freelancer doesn’t get sick pay or holiday pay, and doesn’t get commonplace employee benefits such as life insurance or critical illness cover – even though they need them just as much. So it’s crucial that freelancers think about the financial products they need and make sure they get the best possible value when buying them.
‘Life insurance is a nailed-on essential for any freelancers that have dependents. It provides vital financial support in the event of the policyholder’s death, which can make a world of difference at what is inevitably a difficult time for those left behind.’
For the full results detailing the best locations for freelancers and the top industries across the UK, explore the full study on the MoneySuperMarket website.