Seasons Greetings

see our Festive opening times

Brexit uncertainty is doing contractors a favour

Brexit uncertainty is doing contractors a favour

If you’ve checked the front pages of the national newspapers recently, there’s a fair chance you’ll have noticed the relentless presence of Brexit.

Brexit, Brexit, Brexit. It’s everywhere isn’t it? Well for contractors in the IT sector, that might not be a bad thing.

Brexit’s impact is going to be felt across a range of industries in a range of ways. But one thing that’s been pretty universal is the level of uncertainty it’s brought.

Decision makers are naturally more reluctant to commit to things without the security that might be affected by the UK’s departure from the EU.

And according to a report from Parasol Group first reported by Contractor UK, IT contractors are benefiting from such instability.

IT contractors are being hired by twice as many companies as in the period just before the ER referendum vote according to the report.

Also, when it comes to contract extensions, these are being formalised earlier rather than at the last minute in light of recent events.

The report also found that more than 30% of IT contractors are in contracts lasting a year or more. This was less than 25% at the same time last year.

It seems then that businesses don’t want to place themselves in unnecessary peril when it comes to their workforce at a time when so much else is up in the air.

When the results of the Brexit vote came through, there were some panicked decisions by companies, some of which weren’t particularly favourable for contractors.

However, with the dust settling somewhat now, contractors are proving more popular than ever.

Furthermore, SJD Accountancy noted some Brexit-related projects being established and contractors are being brought in to provide services.

Nobody really knows what the outcome of Brexit will be at the moment, and frankly, your guess is as good as mine. But it seems that though the UK may be in a time of flux, being a contractor is as profitable and enjoyable for many people as it always has been.