England 18/07/2013 – Increasingly, UK workers are choosing to be self-employed and are working as contractors or freelancers.
As of the first quarter of 2013, 387,000 UK residents had newly registered themselves as self-employed. A startlingly increase, which has taken many by surprise. The reasons behind this increase are many and varied. Most experts believe that the fact that this increase coincides with the start of the recession in 2008 indicates that it is the fact that finding work is harder than it once was that has led many to try self employment. This is keeping contractor accountants busy helping people new to the world of contracting and freelancing to get started.
Interestingly, some sectors of the UK economy have been relying on contractors for many years. The building industry is a good example, as is the IT sector. Contractors and freelancers who work on short term contracts mainly staff both industries.
The nature of these industries means that workflows fluctuate. To compete successfully firms involved in these industries have to keep their overheads low this includes staff costs. Employing people on short-term contracts of just weeks or months is crucial to them. A building firm that has 200 houses nearing completion will want a small team of plasters to finish off the walls, but may not have more work for them for several months. The last thing they need is staff on their books sitting around doing nothing. As a result, they employ contractors and freelancers.
Demand for contractor services is also increasing
This trend looks set to continue, and the practice of employing a small team of specialists to complete a project is spreading to other sectors. Therefore, there is little doubt that the number of self-employed contractors and freelancers will continue to grow.
As a result, firms like Nixon Williams who started out by providing accounting services to contractors expect to see demand for their services continue to grow. Today, they have expanded what they offer to go beyond just accountancy services, such as filling out and filing a company’s tax return. They now offer advice about, banking, insurance, company formation, pensions, investments, financing and even on drawing up contracts. Their plan is to continue to evolve and provide the contractors and freelancers who go to them with everything they need to be successfully self-employed.
Contact:
Nixon Williams
4 Calder Court, Amy Johnson Way
Blackpool, Lancashire
United Kingdom
Zip: FY4 2RH
Tel: 01253 362000
Email: info@nixonwilliams.com
Web: https://www.nixonwilliams.com
