Our survey was focussed on what professional services freelancers, sole traders and small businesses currently use and how important they deemed each service. We also wanted to know about the current mental health and wellbeing of freelancers and how important they felt it was to have a supportive professional network in place.
The survey provided some extremely interesting results, which you can see below – starting with the key findings:
- 90% said that freelance admin (tax, invoicing etc.) affects their mental wellbeing in some way (ranging from a great deal to a little)
- 50% of respondents said that stress at work affected their mental wellbeing a great deal or a lot
- 88% agree or strongly agree that their professional network is important
- 84% of respondents said that it was extremely or very important to have insurance to cover their business
- ‘Price’ and ‘range of cover’ were voted as the most important things people look for in insurance
- 82% of people would recommend their insurer to a friend if they were happy with them
- 84% would recommend their accountant to a friend if they were happy with the service, with the remaining 16% saying they would do so if prompted
- 46% of respondents said that relationships were the most important thing they look for in an accountant, with 24% saying price
- ‘Poor service’ is the main reason people would stop using a professional service
90% said that freelance admin (tax, invoicing etc.) affects their mental wellbeing in some way
Just 10% of respondents said that handling their admin tasks, such as invoicing, bookkeeping, tax etc. had no effect on their mental wellbeing. Almost a third (30%) said that freelance admin affected their mental wellbeing ‘a lot’, with 10% saying it affected it ‘a great deal’.
84% of respondents said that it was extremely or very important to have insurance to cover their business
More than half of all respondents (56%) said they felt it was ‘extremely important’ to have insurance cover for their freelance business, with a further 28% saying it was ‘very important’.
Insurance is an increasing concern for freelancers and small businesses looking to protect their business. Here at Create we offer Public Liability, Professional Indemnity, Equipment Insurance and Employers’ Liability insurance for small businesses, as well as short-term insurance policies designed for freelancers who need cover on a flexible basis.
70% of respondents said that it’s extremely or very important to have an accountant
Just under half (48%) of respondents said they felt it was ‘extremely important’ to have an accountant, with a further 22% saying it was ‘very important’. Only 4% of survey respondents said they don’t see any value at all to having an accountant.
‘Poor service’ is the main reason people would stop using a professional service
A whopping 66% of respondents said that ‘poor service’ is the most likely reason for them to change service providers. 18% said they would be most likely to leave if the service they received was not as expected, while ‘price rises’ is the most likely reason for 16%.
Freelance insurance tailored to you
Create Insurance offers specialist insurance cover for freelancers and small businesses – get instant cover on public liability, professional indemnity, equipment insurance and more.