“Independent Contractors in the UK should start looking to small and medium businesses for new contract opportunities,” says Pieter Carstens of 1st Contact Accounting.
“In contrast to large businesses, which have cut back on hiring fulltime or contract staff, SMEs are predicting job creation within their businesses, particularly for IT and engineering contractors.”
One of the reasons SMEs are expected to create contract employment is to avoid the burden of legislation and red tape when employing new fulltime staff members. They may have extremely busy periods where extra help is needed for the company to function at an optimal level. But in quiet times, they sit with extra staff members who have to be paid a salary despite a decrease in turnover. Contractors provide the perfect solution to the problem, creating a win-win situation for SMEs and independent contractors alike.
For any advice or information about contracting tax issues or Umbrella Companies in the UK, please visit www.1stcontact-umbrella.com or call 0808 141 2341 to speak to a skilled and informed consultant.