Average self-employed lost 20% turnover in coronavirus crisis

On average, freelancers or self-employed with no employees lost a fifth of their turnover in the coronavirus crisis. Freelancers in the worst hit sectors lost up to 61 percent turnover in April, BNR reports based on an analysis of tens of thousands self-employed persons' accounts from accounting platforms Moneybird and MoneyMonk.

Freelancers in the hospitality industry were hit the hardest, losing up to 61 percent of their turnover in April. Land transport came next with 59 percent loss of revenue, followed by the travel industry with 57 percent, sports and recreation with 54 percent, and art with 52 percent. 

Not all freelancers were affected by the crisis - 40 percent said they lost no income. But the 60 percent who were affected, suffered significant blows, according to the broadcaster. In some cases this involved over 25 thousand euros of lost turnover. 

In April, only self-employed in the furniture making sector and in financial services performed better than expected. "The facilities management and computer repair sectors are also less affected by the crisis," Edwin Vlieg of Moneybird said to the broadcaster. 

 

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