The PCG recently surveyed the freelance marketplace and discovered that there are currently around 1.4 million contractors in the UK; 41% or 574,000 of them are IT contractors.
Umbrella contractors may be interested to learn that the September Job Index from Reed showed falling job demand in a range of sectors. The index fell back one index point compared to the previous month, although demand is still up 16% year-on-year.
Vince Cable, the business secretary, says that the suggestion to set up a new government funded bank to lend to SMEs, would not be effective in tackling the crisis those businesses face when trying to obtain credit.
While a large number of the UK’s young people remain unemployed, there is a shortage of junior talent with experience in media and creatives, according to the chairman of Aspire Global Network.
Despite the slow growth in the UK economy, contractors such as those working through umbrella companies are doing surprisingly well, according to a new survey by the PCG.