Economic recovery 'powers rising contractor rates and demand'

It will interest many a finance contractor in the UK to read the latest Market Report of the ContractorCalculator.co.uk website, which suggests that with the revival of the economy, contractors are continuing to experience ever-greater demand for their services, in addition to commanding significantly higher rates.

The ContractorCalculator Market Report July 2014 added that far from only receiving interest from large corporations, contractors were even receiving enquiries from small to medium sized British firms looking to quickly plug talent and skills gaps.

However, not all of the report spelt good news for the UK's contracting market, with Scotland struggling on account of a shortage of candidates with the right skills to fill assignments. Indeed, concerns have been expressed that a lack of skills in the UK's flexible workforce could adversely affect economic growth.

The ContractorCalculator.co.uk report pointed to such other recent publications on the contracting sector as the Recruitment and Employment Confederation (REC)/KPMG Report on Jobs for May 2014, which found contractor pay rates increasing at a pace unseen for seven years, due to a combination of heightened demand and worsening skills shortages.

Much insight was also given to the average finance contractor by the latest REC JobsOutlook, which indicated that the next quarter was set to see particular demand for contractors from small and medium sized clients.

It was the Bank of Scotland Report on Jobs, meanwhile, which highlighted the fast - and unmet - rise in demand for contractors north of the border that it suggested presented opportunities for independent professionals elsewhere in the UK.

ContractorCalculator.co.uk also drew its readers' attention to the 20th Aberdeen and Grampian Chamber of Commerce (AGCC) Oil & Gas Survey, and its finding of skills shortages troubling North Sea clients, although buoyancy remained in terms of both investment intentions and confidence.

Finally, Boyden Interim Management's Annual UK Interim Management Survey 2013/14 found that the interim management contracting management market remained buoyant last year, although there was a fall in the number of female interims.

Taken together, these reports suggest continued strong opportunities for the enterprising finance contractor in the UK, both now and in the months ahead.

Editor’s Note: SAIL Business Solutions (http://www.sailsolutions.co.uk) are represented by the search engine advertising and digital marketing specialists Jumping Spider Media. Email: info@jumpingspidermedia.co.uk or call: +44 (0)20 3070 1959 / +34 952 783 637.