We recently posted a market update article in which we reported on contract and temporary placements increasing, according to REC’s report. APSCo’s May IT report also stated that contractor and freelancer opportunities were set to increase in the next 12 months. Now, APSCo has released even more positive findings from its ‘Growing Together’ survey in which a total of 108 recruitment firms were surveyed on business priorities for 2017, growth drivers and barriers in the marketplace as well as the impact of Brexit and overall market confidence.
The survey findings highlighted that 85% of recruiters are confident that their business will grow successfully over the next 12 months. The success indicators over the next two years will include measuring by increased profits, increased revenue and increased headcount.
Contract and temporary placements on the rise
According to the survey, 44% of recruiters think that it is likely that there will be fewer permanent vacancies as clients ‘wait and see’. In contrast, 36% of recruiters think that the increase of contract and temporary assignments this year is likely to occur as a result of Brexit. Similarly, REC’s Jobs outlook report for May found that around 89% of recruiters would be holding or increasing temporary workers.
As the demand for niches areas, particularly in some areas of IT including Infrastructure Architecture, increases, 39% of recruiters feel that diversification into new sectors is important.
Students soon to be graduating this year were surveyed and the majority (57.1 per cent) will be ‘considering’ or are ‘very likely’ to join the gig economy. This is great news for the UK’s economy, especially since contractors and freelancers have contributed £119 Billion to the economy in 2016 this past year.
With demand for contractors and freelancers increasing due to post-Brexit uncertainty, now is a great time to consider your contracting career.
As affiliated members of APSCo, K&B Accountancy Group and Cloud9 Umbrella can help you if you’re thinking about entering the world of contracting. We uphold the APSCo code of conduct across all areas of business to offer independent contractors, freelancers and recruitment agencies the security that we are approved industry suppliers.
Looking to run your own limited company? K&B Accountancy Group can assist you with setting up your limited company with dedicated, expert accountants on hand to provide you with the latest tax legislation updates and advice. Arrange for a FREE consultation with an accountant on 0207 028 0211 now. If you are looking to go down the contracting route but want to test the waters first, then working through an umbrella company may be a better option. Give Cloud9 Umbrella a call today on 0207 078 0212 to discuss our hassle-free PAYE solutions.