Brexit and Contractors 12/07/2016

What does Brexit mean for contractors?

Ever since the shock decision that Britain will leave the European Union (EU) there has been little said about the plan going forward.  This may be confusing if you’re a contractor or freelancer and you may well be left concerned about your future, especially as there have been warnings about the economic consequences of Britain leaving the EU.

Uncertainty

As no set plan has been put into motion yet, it is clear that Britain is in a state of uncertainty with regards to the next couple of years.  This has a negative effect on businesses whom, like many, dislike uncertainty.

That being said it has emerged that, at least for contractors, the uncertain nature of Britain’s future could end up boosting demand for contractor workers.

Dave Chaplin, CEO of Contractor Calculator said:

“It is during this time of uncertainty that contractors will benefit from businesses hiring contingent workers in order that they can manage risk.”

In the past when we’ve encountered doubt and uncertainty in economic environments, there has been an increase in demand for hiring contractors rather than permanent workers, and there is nothing to say that this won’t happen in this instance.

This shift could place contractors in the driving seat and could well encourage more experienced professionals to make the leap to contracting.

New Opportunities

The Association for Independent Professionals and the Self-Employed (IPSE) also believes that Britain leaving the EU brings lots of prospects for the UK’s contractors and freelancers.

Chris Bryce, IPSE CEO said:

“Today’s historic result has huge implications for the UK’s 4.7 million self-employed workers and they’ll be wondering what it means for them.

“IPSE believes this new era can and must be taken as an opportunity for the UK.  Priorities should be new global trading arrangements, cutting burdensome regulation on small and micro businesses and ensuring that Britain has the most flexible and attractive economy in the world.  With these priorities, the UK can be a place where freelancing and contracting can thrive.

“New circumstances always bring new opportunities for freelancers.  We should be optimistic about the future and IPSE will continue to push the importance and value freelancers bring to our economy.”

It is clear that although uncertain times are upon us, contractors can feel safe in the fact that uncertainty will lend itself to their nature of work and that contractors may well benefit from the vote to leave the EU.

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