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Contractors confident despite economic uncertainty
Posted Sep 28, 2011
A survey of over 2,000 contractors and freelancers shows that the sector remains impressively confident about the future, despite the threat of continued economic strife.
The poll, conduced by PCG, the contractors' organisation, revealed that 75% of respondents had been on contract duties for at least eleven months out of the past twelve, and an impressive 84% expect the number of contract opportunities they face to remain constant or increase over the next year.
This show of confidence is perhaps not unexpected, given that the very nature of contracting involves periods of uncertainty. In fact, many freelancers thrive on the fact that they are not tied down with a permanent role.
The economic crisis has also forced more individuals to consider alternative ways or working, or to adapt to new situations; the survey revealed that cost cutting across the public sector has forced many contractors to seek work in the private sector, with 13% of respondents 'switching sides' since 2010.
According to the poll, over half do not expect contract rates to drop in the near future. Over the past year, 51% saw no change in their rates, and 33% were given a rate increase.
Commenting on these findings, John Brazier, MD of PCG, said:
"We are not at all surprised freelancers are in demand, they are the natural accelerants of the economy as UK Plc gets back on its feet. However, our members report it's been a tough road particularly those who saw local public sector work dry up and had to revise their business plans, but our members have demonstrated their adaptability by securing contracts in the private sector."
"We still live in uncertain times and government must wind up the rhetoric and start cutting red tape and regulations to enable the freelance workforce to deliver its full potential."
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