Press Release: London, 19 June 2008 – Consumer inflation is forcing increasing numbers of people to seek second income, says online marketplace for services PeoplePerHour.com.
This week the Bank of England reported that escalating food and fuel prices have pushed inflation above 3%, forcing thousands of individuals across the UK to find ways to supplement their household income.
PeoplePerHour.com – the online marketplace for services – has reported rapidly rising registrations from people who are in full-time employment but need to generate extra cash by offering freelance services in their spare time.
35% of PeoplePerHour.com’s 7000+ freelance service providers have full-time jobs – a figure that’s rising monthly. People are using the website to market a wide range of professional skills such as graphic design, software programming and marketing. On average, a skilled professional can expect to earn upwards of £250 per month with just a few hours’ work sourced through the site.
“The current economic conditions have contributed immeasurably to the burgeoning popularity of sites like ours,” says PeoplePerHour.com founder Xenios Thrasyvoulou. “On regular salaries skilled professionals are struggling to make ends meet. It’s little wonder increasing numbers of them are harnessing their experience and skills to offer freelance services outside office hours.”
Uncertainty about the economy has resulted in a fertile market for this growing bank of UK freelancers. Business owners are increasingly preferring to outsource projects to remote freelancers, which is cost-effective and minimises the risk associated with making permanent appointments. PeoplePerHour.com’s buyer feedback system means it’s also very reliable – businesses can engage the services of freelancers based on other buyers’ recommendations.
“Inflation has effectively increased both the supply of and demand for freelancers,” says Thrasyvoulou. “PeoplePerHour.com is providing a medium through which these market forces are expressed.”
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PeoplePerHour.com Background Information
• PeoplePerHour.com was founded in 2007 by two Cambridge University graduates: Xenios Thrasyvoulou and Simos Kitiris.
• The company has already attracted £350,000 of seed investment from prominent angel investors and is in discussions with a number of VCs for a further growth round.
• Typical PeoplePerHour.com buyers run a small businesses (usually less than 20 people) including boutique financial firms, internet companies, property and PR agencies amongst many others.
• Visit http://www.peopleperhour.com for further information.
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