Twenty-one per cent of contractors chased late payments on their summer holiday

The IPSE is urging the government to do more to tackle late payment in order for contractors to enjoy a better work-life balance.

The IPSE’s report ‘Taking time off as a freelancer’ revealed that nine per cent of contractors didn’t take time off in the last year – this is despite as many as 59% saying that time off gives them a better work-life balance.

Fifty-eight per cent replied to work-related emails while on their summer break, and worryingly, 21% of self-employed professionals spent their time on holiday chasing a late payment.

As a result, the IPSE is calling on the government to end late payment culture to stop contractors having to chase clients during their time off.

Inna Yordanova, Senior Researcher at IPSE and author of the report, commented, “A good work-life balance is essential for wellbeing and mental health. And many people go into self-employment for just that reason: for the flexibility to fit their work around their life, rather than the other way around.”

Yordanova added, “Our research has found, however, that late payment is a major factor holding many freelancers back from a good work-life balance. Chasing late payments is creating extra stress and taking up disproportionate amounts of freelancers’ time – an average of 20 days a year, in fact.

“To support freelancers across the UK, the government must help them achieve a better work-life balance and improve payment culture. That’s why we’re calling on the government to give more powers to the Small Business Commissioner to clamp down on late payment and even fine the worst offenders.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@contractorumbrella.com.