New research shows contractor issues top priority for businesses
Recruitment firm Alexander Daniels has conducted a study recently to ascertain the major issues for companies as the general election draws closer and closer. They have approached a number of UK businesses to learn what they think will be the key points affecting them during the campaign, and in the aftermath of the results of polling day on May 7th.
It may come as no surprise for those who take an interest in the fortunes of independent professionals to learn that tax relief and the problems of late payment are considered priorities. Organisations are keen to see how the government, however that is formed once the votes are in, will tackle these issues and where they will be on the priority lists of the politicians in power.
Of those polled, which included a range of different sectors and industries, over a third expressed their concern over the issue of late payment stating that it was a major problem for them. The ongoing skills shortage was also cited as one of the primary concerns of UK businesses who are still having trouble recruiting qualified and experienced candidates to their vacancies, making it increasingly difficult for them to take advantage of the buoyancy of the economy by expanding their operations.
When questioned as to the main concern that businesses had about their future after the election, many replied that they were keen to see a government that would provide increased tax relief on investments, but this was closely followed by a desire to see a complete overhaul of the tax system.
These results may not come as a surprise to anyone who is in business – most of those who responded had experienced issues with cash flow as a result of delayed payments with many having had to wait for more than a month beyond their agreed terms on occasion. This can impact seriously on their ability to trade successfully, which can hamper their prospects when it comes to taking advantage of the UK’s economic recovery. Although the current government has made inroads into improving the situation, the measures they have introduced go nowhere near far enough
The research also found that small businesses are overwhelmingly in favour of remaining in the EU, especially those which are focussed on contracting. Of those who responded to the study, there were actually none who supported the outright withdrawal of the UK from the union.
If you are concerned about your potential earnings in the wake of the general election, then our contractor take home pay calculator could help you to work out your potential earnings. We have a number of free contractor guides which can help you to understand your position and ascertain the impact that changes in government could have on your work and earnings.