It seems that that while the Brexit cloud is hovering everything in the UK is slowing to a halt. Even though as previously stated in Liberty Williams Article student property is deemed to be a safe growth market post Brexit. With many people enjoying the comfort of PAYE and the stability it brings the news that employers are giving up hiring new staff due to uncertainty over Brexit is not good reading. The Business confidence is weakening and the UK and is “stuck in a rut” because of the uncertainty and delay with the UK's split from the EU is affecting the economy, the British Chambers of Commerce (BCC) said.
A survey of which included around 5,600 businesses was undertaken, the results showed manufacturing exports industries were slowing and many service-based firms were giving up trying to hire new staff members. With costs in manufacturing expected to go up due to the rise in importing of raw materials businesses are tightening their belts with the dark forecast ahead. With this analysis of the future market’s companies would rather spend money on plant and machinery rather than on training and recruitment. There has never been a more important time for the government to bolster business investment, competitiveness and productivity in the face of significant Brexit headwinds. While fewer companies are trying to recruit, those that are hiring they are finding it increasingly challenging to fill vacancies.
More and more companies are turning to contractors to fill their vacancies which have so far gone un filled. As both the company and the contractor enjoy the flexibility of not having to add them to the workforce or must assign training courses this market is growing. Whether through a limited company or as an individual you can be your own boss, no more performance reviews, strict dress codes fully responsible and reliant on yourself. Contractors can also choose their own hours and place of work contracting allows more flexibility. Expenses is another key benefit and Business-related expenses such as Office Rental, Supplies & Equipment as well as Accountancy and Legal fees can all be claimed along with Travel and Motor expenses meaning you can trade as tax efficiently as possible.
The days of joining a firm whilst young and having the “job for life” is over companies no longer want a large work force rather flexible specialists they offer contracts too where is a larger mutual benefit on both sides.
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