I have some excellent news for all you freelance language translation professionals out there who have been dreading the recession. Global Watchtower recently carried out a survey of 277 professional freelance translators and came to the conclusion that overall business was not really all that bad.
A majority of the participating translation professionals rated their business between good (27.8%) to satisfactory (49.8%). This in-spite of the fact that the fourth quarter of 2008 was among the worst quarters in recent times from the financial point of view.
But what clinches the deal is the admission of many respondents that they did undergo the pressure to reduce their rates but most of them that’s about 76.9% intended to carry on without comprising on their charges in the next quarter. In fact about 13.7% of the respondents reported raising their rates in the last quarter of 2008.
I am really elated at this piece of news – though the recession was not bad on me, I really hope that this piece of news would be able to bring a smile on some of my fellow language translation professionals’ lips.
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