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Contractors: Doom and gloom or driven and determined?
by Susie Hughes at 12:13 16/09/19 (News on Business)
As a contractor, it’s hard not to receive emails or see news everywhere covering the pending IR35 off-payroll roll out to the private sector, or the confusing updates from Boris Johnson and others about 'deal or no deal' Brexit.
But is the contracting market really all doom and gloom or is it all just scaremongering?

Specialist contractor accountants, Integro Accounting, surveyed their client base and found that 70 per cent of contractor choose being ‘masters of their own destiny’ despite IR35 uncertainty.

These results were received from clients both prior to, and after the July 11, IR35 off payroll roll out announcement. Results did not dramatically drop and remained consistent despite further details of the private sector roll out.

The survey revealed contractors remain positive in uncertain times with nearly three quarters choosing to go rather than being 'pushed' into it.

Contractors naturally shared their worries over IR35, wondering what it meant to the industry; and whilst it is acknowledged that both contractors and their fee payers need further clarity and support on the subject, things should remain business as usual.

Positive
Over three quarters of contractor’s state ‘greater flexibility’ as the key driving force for remaining a contractor with ‘greater take home pay’ in second place.

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Eighty-five per cent of contractors are claiming daily rates between £300 - £800 with sites such as IT job watch averaging consultants to be on £500 per day, based on the results of their latest contractor job vacancies published (as of September 2019).

This is positive news as 53 per cent of those sharing their thoughts work in the most popular sector, IT. The diversity of project roles appears to be expanding with the term ‘business consultant’ now seen as boring, and over half having a variety of titles including ‘Architecture’ and ‘Complex Weapons Integration Specialist’ to name a few.

Just over 60 per cent of clients chose ‘no office politics’ as the reason for moving into the consultancy workforce; stepping away from being micromanaged.

Integro Accounting says that with the likes of the NHS confederation reporting that 61 per cent of people are experiencing mental health issues due to work or work being a related factor this comes as no surprise.

Recruitment
Results showed that 30 per cent of clients no longer solely rely on recruiters to secure a role, but an existing contact has equal weight in the contracting market.

Over half surveyed are securing contracts from six months up to two years, showing that longevity in the contracting market is yet to diminish.


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