UK SME’s could save billions by hiring contractors

(1 minute to read)

According to a recent report, the UK’s smaller sized businesses could find themselves saving over £26 billion each year by choosing to hire self-employed workers.

These latest findings from freelance marketplace PeoplePerHour (PPH) and the European Commission found that small and medium sized business could make significant savings every year, simply by task-based hiring.

The data found that if businesses broke down roles into their simplest tasks for contractors to take on (for approximately 37.5 hours a week), they could see a saving of £19,500 per year for each company.

This is great news for not only the UK SME’s, but of course the country’s many highly skilled contractors too.

Interestingly, PeoplePerHour contractors alone saved UK businesses over £90 million in 2016.

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Xenios Thrasyvoulou, founder and CEO of PeoplePerHour, commented, “Freelancers are an increasingly important part of the workforce and overall economy. Businesses are already tapping into freelance talent to accelerate growth whilst keeping overheads low, making sure their budget goes further whilst making other efficiency gains in matching the right talent with the right tasks.

“According to our calculations, if all SMEs transitioned 37.5 hours per week to specialist freelance talent, the UK-wide savings would be £26bn, an undeniably large sum that businesses could invest into other areas, and much-needed in times when money is still tight for SMEs.”

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

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, ContractorUmbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. 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 ContractorUmbrella – With changes in Public Sector IR35 Legislation 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, ContractorUmbrella.
  • 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 – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that 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 CashPlus free of charge for the first year, saving you £69.
  • 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.

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 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

Dolan Accountancy