UK Pre-Recession Peak Within Reach During 2014

According to a recent news story on the BBC website, the scale of the UK economy this summer will be in excess of the peak level that was observed before the financial crisis of 2008. BCC director general, John Longworth, has affirmed his confidence in the economic recovery, with the forecast for 2015 also being optimistic in nature. Growth predictions for next year are currently at 2.5%, and the first rise in UK interest rates is also expected to occur at the end of this period too. This latter will be especially welcome news for many, although not all observations have proved to be similarly positive.

The major area of concern continues to be the worryingly high level of youth unemployment. Here at ICS, we are well aware of the difficulties that are facing the youth of today, and have already identified in a previous post how many of these young people are finding a way out of this situation by turning to contracting. Graduates in particular are making heavy use of this avenue, and we are certainly curious whether more of today’s youth will elect to take this step. Many young people do not know what their future careers might hold, and we have pondered this fact in another of our blogs; displaying that such young people may consider contracting as a viable move without any previous history.

For the contracting sector, the return to economic stability will always be a profitable occurrence that will open up numerous new possibilities. As related in the aforementioned news article, many businesses in the UK are in the process of expanding and creating new positions; and the active ambition behind these adjustments is good news for people looking for contractor vacancies. Contracting is a rewarding career path, but it sometimes also pays to have a little professional assistance, thereby ensuring that you get the most out of your new occupation.

ICS are a firm of contractor accountants committed to providing a range of payroll and accountancy services to contractors and freelancers. Working with contractors for the past twelve years, we have a solid understanding of the marketplace. If you are new to contracting or want to find out more about being a contractor then you may find our ‘Guide to Contracting’ helpful.  Alternatively if you’d like to speak to someone, please call us on 0800 195 3750.