Why many UK freelancers earn more from global clients in Q4

‘Q4’ always comes with a ‘queue for’ UK freelancers. See what we did there? Oh well, there is this trend every year: UK freelancers tend to see higher demand for their services and make more money towards the end of the year. This article hopes to shed some light on this mystery and how you can maximise this as a freelancer in the UK.

Also read: How Grey differs from a UK bank

Reasons for higher Q4 earnings from global clients

Higher earnings in Q4 (October to December) are often due to companies maximising end-of-year budgets, meeting strict project deadlines, and needing specific skills to meet seasonal demand. Here are some reasons many freelancers earn more from global clients in Q4.

1. End-of-year budgets

Many businesses operate on an annual budget cycle and have leftover funds that must be spent before the fiscal year ends (on 31 December) to avoid reductions in the following year's allocations. There is this “use it or lose it" mentality that often leads to a surge in short-term project spending and to outsourcing to freelancers rather than hiring full-time staff. Some of these expenditures go into:

• Website re-designs and upgrades
• Year-end marketing campaigns and reports
• Product launches and holiday promotions
• Content, design, or data projects for annual targets

2. Year-end deadlines

Many companies double up on their year-end targets just before the holidays begin. They frequently rush to complete projects and campaigns. Freelancers are their go-to because they offer better flexibility and skills to help meet these tight deadlines without the long-term commitment of hiring additional full-time staff.

3. Seasonal demand

Q4 generally coincides with increased consumer demand across most industries. These businesses often need extra hands to handle holiday-related tasks, such as creating seasonal marketing campaigns, updating e-commerce sites, or preparing for the new year. This is where freelancers come in. Freelancers offering season-relevant services attract more international clients, especially from countries where these holidays drive spending. Here are freelance industries that naturally thrive in Q4:

• E-commerce and marketing: Black Friday, Christmas, and New Year campaigns. Holiday-related items and services are also in higher demand.
• Financial consulting: End-of-year audits, compliance checks, and annual financial reports.
• Tech: Website and app maintenance and updates.
• Design: Festive branding, corporate gifts, and merch

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4. Next year's plan

In Q4, companies also begin to prepare for the following year. They start budgeting, forecasting, and preparing proposals. Freelancers in business strategy, data analysis, finance and auditing, and marketing are usually in high demand for these purposes. Firms might seek external support for annual reports, market insights, and reviews. Freelancers are great options since they are only needed in the interim.

5. Currency fluctuations

Working with foreign clients means you get paid in other currencies like EUR or USD. GBP often fluctuates significantly against the dollar and euro. When the pound is weaker, UK freelancers paid in foreign currencies often earn more in GBP terms after conversion. If this happens in Q4, UK freelancers are likely to make significantly more money than in other quarters.

Also read: Best PayPal and Payoneer alternatives for freelancers in the UK

How UK freelancers can make the most of Q4

By exploring the reasons Q4 is usually a great quarter for UK freelancers, you can better position yourself to improve your earnings. Here are some tips to help with that.

• Update your portfolio: Highlight relevant seasonal projects, what you’ve been up to during the year, and your availability.
• Reach out to past clients: Offer support for end-of-year goals or campaigns to your old clients, especially if you worked with them earlier in the year. You should tell them how you can help them, specifically regarding their EoY needs.
• Quote wisely: Higher demand usually justifies higher rates. You can also provide year-end promotions to improve your chances of a long-term relationship with the client.
• Plan for January: January often seems like the longest month of the year, coming off a busy December. You might have fewer gigs in January. Ensure you save up enough of your December’s income spike to cushion that lean period.
• Use a reliable payment channel: Use a trusted international payment platform like Grey to receive and manage multi-currency payments securely. Such platforms also ensure you keep more of your income and lose less to hidden fees, high transaction charges, and exchange rate markups.

Earning more with Grey all year long

Q4 offers UK freelancers a unique opportunity to maximise their earning potential from global clients. As businesses wrap up their annual activities, they need freelancers for short-term gigs across marketing, tech, and administrative roles. With Grey, UK freelancers can leverage currency fluctuations by holding international payments in their multi-currency account and monitoring the exchange rate to convert at the best value. Users also enjoy swift, seamless cross-border payments with low transaction fees.

Get started with Grey today and maximise your freelance earnings all year long.

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