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Following last month’s three percentage point improvement, UK business confidence levels dropped by a percentage point this month to -12 from -11 in November.

The Recruitment and Employment Confederation’s latest JobsOutlook report found that the drop back in employers’ confidence in the economy coincides with confidence in making hiring and investment decisions, declining by three percentage points, but remaining firmly in positive territory to a net of +13, the lowest level recorded since April 2018.

Sixty-one per cent of employers anticipate economic conditions will be more challenging next year than in 2018, up from 51% when the question was asked in December 2017, showing there has been little or no progress by government to reassure employers, with only three per cent of respondents saying that economic conditions will be less challenging in 2019.

However, despite this, 47% of employers expect their business to perform better next year than in 2018 and just nine per cent think it will perform worse. 44% expect their business to perform as well next year as they did in 2018, indicating employers are making plans to respond to adverse economic conditions.

Almost half (49%) of UK employers who hire permanent staff expressed their concern this quarter over the sufficient availability of candidates for permanent jobs, up from 44% a year earlier, with anticipated shortages of hospitality workers causing most anxiety for employers.

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Forty-six per cent of employers intending to hire temporary workers expressed concerns over the sufficient number of agency workers with the necessary skills they require, up from 35% this time last year.

Neil Carberry, Recruitment & Employment Confederation chief executive, commented, “Britain’s jobs market is resilient, but it can’t defy gravity indefinitely. The current uncertainty around Brexit means firms can’t invest with confidence – and that means lower growth and fewer opportunities in future. We must ensure that the concerns flagged in our survey do not lead to a downward trend in our jobs market.”

“In times of uncertainty, flexible working arrangements provide a crucial outlet for employers and workers. The government’s workplace reforms announced this week must be implemented effectively in order to maintain this and find the right balance between flexibility and fairness.”

“Today’s report also underlines key staff shortage areas in our economy, from healthcare to logistics, and from manufacturing to or our world-leading creative industries. As well as upskilling our workforce, the need for an evidence based immigration strategy has never been more pressing. We hope that the government is listening at this crucial and uncertain time for UK business.”

To find out more about contracting please contact Sophie on 01442 795 100 or email sophie.lewis@dolanaccountancy.com

Why Thousands of Contractors Choose Dolan Accountancy

With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £105 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795 100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours
  • Free use of Contractor Umbrella – With IR35 Legislation changes we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams
  • Free Access to FreeAgent – We offer all of our clients access to FreeAgent, free of charge
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few
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