Agencies Going Bust

[Andy Hallett]

I wrote this on LinkedIn today:

Andy Hallett on LinkedIn: #furloughed #covid19 | 18 comments

For those lucky enough to be in contract, as businesses you should be speaking to your customers (in most part the agencies) and asking how your payments are looking and what they are doing to ensure it is made on time.

Based on 20 years experience I am hoping it's fine, fearing a bloodbath.

Available on this thread or via PM if anyone needs advice.

[cojak]

We’re seeing this already Andy, both with agencies and umbrellas.

Brookson has raised concerns for example.

[LondonManc]

The unfortunate thing is that while it's the contractors earning that money for them, they're the people that the agencies give fewest tulips about. They really do treat contractors badly; hardly a shame if the bad ones have to restock supermarkets instead.

[Andy Hallett]

We’re seeing this already Andy, both with agencies and umbrellas.

Brookson has raised concerns for example.

The brollies should be ok for a short term pinch. Cash wise they sit on a pile of VAT and Tax take. They’ll then likely get away with Minimum Wage and immediate termination.

[GhostofTarbera]

The unfortunate thing is that while it's the contractors earning that money for them, they're the people that the agencies give fewest tulips about. They really do treat contractors badly; hardly a shame if the bad ones have to restock supermarkets instead.

And as they go pop pop pop over the next few months the owners will extract max money for themselves leaving contactors in dire straights - get ipse insurance now


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[cojak]

And as they go pop pop pop over the next few months the owners will extract max money for themselves leaving contactors in dire straights - get ipse insurance now


Sent from my iPhone using Contractor UK Forum

If this is the only reason to (re)join IPSE then do it.