State of the Market

[contractorinatractor]

Would they be Remain voters by any chance?

Weren't most well educated and rich people? I think you'll find most prefer stability to continue their enhanced income and asset attainment.

If someone argues 'this is to be expected, the rich have done just fine since 2008' then I would wholeheartedly agree with them. The country does require change.

In the short term, are you going to expose your medium or small business to the devaluation of GBP and compete for work which is far less paid, coupled with this devaluation?

There's a good reason, albeit selfish, that rich business owners are likely to have voted 'remain'. However you mentioned the voting notion, not me - I was passing on what I have heard from speaking to business owners who have businesses catering to the UK and EU. If you're a service, and medium or small Ltd Co, are you suggesting that with the forthcoming downturn assumed you wouldn't want to work in the EU, with rates of €500-€1300 achievable, whilst the U.K languishes in a long term market downward trajectory for our own businesses and the services we provide?

Perhaps you're too old and settlee to move - but if you're a serious professional on an upper end day rate you would be mad to stay if your high pay workload is going to dry up or be battered down in day rate due to businesses willing to accept compromises expertise; they will also be experiencing the same downwards pressure.

I am not seeing this topic discussed throughly on these forums; just point scoring over remain vs brexit voters.

We may all be for a better income distribution throughout the UK, but my fear is that our work dries up, GBP remains crap, day rates head down, contractor desperation vastly rises; along with far less ability to just move abroad to work for a far better rate and therefore income and lifestyle.

This isn't 'talking the UK economy down' - it is of such obviousness and such a valid concern that it's a given that these points should be discussed.

Just to check: do you believe work opportunities, day-rates, and roles will remain static or improve for the majority of us using this forum? No single event I have attended has this thought in the presentations or sentiment. Are their busjenss instincrs wrong and we "just don't understand"?

Businesses try to deal with only facts and as reliable future models as can be ascertained.

Note: I haven't even touched on the forthcoming tax changes likely to affect contractors or small businesses. A large rise in dividend tax rates would just add to the aforementioned negative sentiment.

[SandyD]

I am unexpectedly out of a contract, finding the market really quiet

[uk contractor]

IME the boom years were 1996 until about 2000 it was easy to get a good contract & rates were just ridiculous...Ferraris all round & plenty of money to run them on! You could leave anywhere on a Friday and start somewhere else on a Monday for more money! Then the Y2K non event happened and after that IT got a bad rep as dot.com crashed around the same time & suddenly IT was just another business cost to be contained for many accountants cost was everything so XP & Win 2000 got extended shelf lives.

Then 9-11 tragedy happened & that caused the recession from 2001-2003 so IT contracting just nose dived for many. 2004-2007 were boom years IT contracting picked up rapidly then by early 2008 it crashed along with the great depression financial crisis (which we are still in today in relative terms).

By 2012-13 it had started it pick up again but suddenly crashed again around mid 2013 & since then it has been slowly declining but in the past 24 months there has been a noticeable lack of roles & massive increase in the number of IT contractors available for pretty much any discipline. No-one knows where the economy is heading next its been ticking over on fresh air for years with no real growth just zombie companies keeping afloat on VAT & corporation tax avoidance! But its clear we are already deep within a UK IT recession as demand is low & supply is higher than its ever been. UK Government are clearly not interested in a highly paid IT industry sinking as they view us all as tax avoiders anyway!
FYI: I feel young again that there are others on here who are even older than me

[PermMCCon]

It's interesting how experiences differ. I started contracting in 1993 having been permie with DEC for only 4 years out of Uni. Never had a gap until 2002 when I chose to leave to start a retail\online business. I didn't feel roles were in short supply but certainly there were less contractors to fill those roles, which meant for extensions rate rises were (for me and my friends) the norm.

Contrast that with now, where supply is high, demand is low, hence putting pressure on rates and certainly no rise on extension for the same role which is probably how it should be.



We were the dogs bollox mind fantastic it was

I agree with you Gables.

All in all, the late 80s to early 00s was a golden era for contracting.

Was it perfect? Off course not, but compared to 2017 did it have a lot more positives? Absolutely.

But then again, I am only speaking from hearsay as I was but a little weeny teeny child then. I don't know the 70s and can remember (a bit I think) of the 80s... was only old enough to start "proper" work (ie not a paper round) in the 00's.

So I'll have to go with what you oldies have to say! Us young whippersnappers like to think you boys had it good.

At least I was old enough to see how things were "pre 2008". My god what a difference since then.

[SussexSeagull]

I started contracting in 2008 and had one five month period out during the post-crash dark days in 2009 but other than a Summer out (which is kind of par for the course) have more or less constantly worked until the middle of last year.

Being flexible with rate and location used to see you through. Not anymore.

[tiggat]

I started contrating in December 2016 and pretty much got poached from a permanent position, I work in analytics, and had 2.5 years experience at the time I moved, I think this shows the analytics market is pretty good for candidates if I can get a role with such a relatively small amount of experience.

[eek]

I started contrating in December 2016 and pretty much got poached from a permanent position, I work in analytics, and had 2.5 years experience at the time I moved, I think this shows the analytics market is pretty good for candidates if I can get a role with such a relatively small amount of experience.

The first contract is rarely a problem - it's the second / third that is difficult to get..

[tiggat]

The first contract is rarely a problem - it's the second / third that is difficult to get..

I think you're trying to spook me...

[eek]

I think you're trying to spook me...

Nope - just stating facts.

It did, however, also allow me to identify how many contracts you have had and how much experience you have got of actually trying to find a new contract in the current climate (none which makes your comments on the current market worth....)

[tiggat]

Nope - just stating facts.

It did, however, also allow me to identify how many contracts you have had and how much experience you have got of actually trying to find a new contract in the current climate (none which makes your comments on the current market worth....)

I'm on my second, both times I was contacted by recruiters.