Whilst the outcome of the EU referendum seems to be bad news for permanent employees, recent trends seem to highlight that contractors may be set to prosper. Could the Brexit see an increase in the UK’s dependence on the flexible workforce?
A report by The Association of Professional Staffing Companies (APSCo) highlights that during the run-up to the referendum, contractors were the main beneficiaries, with vacancies rising across many sectors.
APSCo’s figures reveal that there has been an overall 1% increase in contractor opportunities year on year since 2015. Of particular note were the increases in the finance and accounting industry, with contractor and freelancer vacancies increasing by 27%.
Permanent hiring has slowed consistently in the lead up to the referendum, with uncertainty leading many employers turning to contractors, a trend which many expect to continue. With a British exit from the single market leading to long-term uncertainty, many companies are clearly turning to the UK’s flexible workforce to cover the workload until a clearer path or long-term strategy is in place.
How do you think the British exit from the single market will affect the contractor industry? Leave a comment below.
Has the increase in contractor vacancies caused you to consider a career as a contractor? Since 1998 Churchill Knight & Associates Ltd. has offered contractor accountancy services, making us experts in providing accountancy services to new and experienced contractors. Speak to one of our advisors today on 01707 871622 for help and advice on becoming a contractor.