The contracting landscape is one which has changed significantly over recent years, with an increase in the number of people choosing to work for themselves forcing successive governments to adapt and accommodate the needs of independent professionals.
One of the major factors in the way that contractors and other self employed individuals have shaped policy has been the ongoing need for the skills and experience that the flexible workforce brings to businesses throughout the UK. Without independent professionals, many businesses would have been unable to expand, diversify or fill the positions they have had vacant, as the news this month shows.
Knowledge economy flourishing with contractors filling vital roles
The Knowledge Economy, those businesses which rely on intellectual capital to make them profit, is making a huge contribution to the overall health of the UK’s finances. FinTech, TV and film production, aerospace and pharmaceuticals are just some of the sectors which are doing particularly well and contributing to recently reported figures that suggest the knowledge economy is generating new business at four times the rate of other sectors and industries.
Many commentators believe that this is in no small part due to government stimulation initiatives, such as offering tax credits to businesses undertaking work in research and development. The field is a particularly lucrative one for contractors, given the speed with which projects are undertaken, making it an opportunity-rich time for independent professionals with the right skills.