The Association of Independent Professionals & the Self Employed (IPSE) have published largely mixed information with regard to UK contractor prospects for 2015.
On a positive note, the IPSE suggest that UK contractors are likely to be upbeat in the performance and pay areas of working in 2015. Figures reveal that fourth quarter income for ISPE members of £29,643 represents a 7.4% increase on the third quarter total of £27,576. Contractor daily earnings also displayed an upward curve for the October to December period, rising to approximately £524. In comparison, results for July to September totalled around £506. In addition, the popular opinion held by the majority of IPSE members is that earnings are likely to remain constant, although a smaller group, comprised mainly of freelancers are optimistic of further growth over the coming year.
IPSE however called for a cautious approach amongst contractors with regard to the additional take-home pay statistics. Stability and consolidation appear to be frequently occurring targets amongst members with a plateaued performance trend anticipated for 2015. Key reasons for this belief include, 51% of contractors believe costs will rise in 2015, they also expect the UK’s economic performance to deteriorate over the next 12 months. In addition, many contractors have also prepared themselves for a reduction in the amount of contracts securable in 2015.
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