Smaller-sized firms have faced serious challenges thanks to the volatile economic landscape, but contractors may be able to help these businesses recover.
The financial crisis wreaked all kinds of havoc on the economy, and whilst big banks got bailed out by the Government, many small-sized firms ended up getting the equivalent of a swift kick in the bollocks followed by a half-brick smashed into their skull. As a result, smaller firms have had to tighten their belts to survive the bleak post-apocalyptic economic landscape.
Growth has been difficult for these firms, and new research findings from the Forum of Private Business backs up these claims. Not having enough time, money, or skilled staff were all listed as some of the biggest concerns for all the firms surveyed, and many of these companies saw a very rough road ahead of them for at least the coming year.
However, there are some things that are actually working in favour of small businesses, and that’s the availability of freelancers and umbrella company contractors to help fill the gaps they’re suffering from. A strategically-placed contract worker or two can save money over using traditional permanent employees and provide much needed expertise whilst also providing some breathing room for small business owners so harried that they have no time to do anything else but keep their company treading water.
Lest we forget that back in the darkest days of the economic crisis, shedloads of Brits either lost their jobs, saw their wages frozen, or had their hours scaled back by companies that could no longer afford to employ them at their previous levels. A great deal of these individuals transitioned to the freelancing lifestyle, first to make ends meet and then to embrace the flexibility working as a contractor provided, and this means there’s an absolute treasure trove of interim workers out there that are ready, eager and willing to pick up work on a per-project basis.
Many of these contractors are much more willing to work with a small business then they are with a big firm, as well. It makes perfect sense, of course; if I had been made redundant by a large multinational, I’d be much more interested in working for the little guy than going back and getting ground up in the gears of bureaucracy yet again. Wouldn’t you?
