Good Start

Parity recently announced that, although they had some problems in other parts of their business, Resources has made a good start to the year.

The statement they put out to the Stock Market covers the trading period staring from January 1st 2008.

According to the company:-

“Resources has made a good start to the year. As a result of our market focus we are experiencing continued strong demand with first quarter gross margin rates improving over the same period in the prior year and contractor numbers growing through the quarter.

“We are keeping discretionary spending tight, whilst gradually increasing our selling capacity to be able to respond to the market opportunities that continue to emerge”.

Another One

That’s yet another agency who have said that the IT Contracting market is healthy and that they see no clouds on the horizon for the coming period.

The agencies are the dog who didn’t bark in the night as regards the credit crunch effect on IT Contractors.

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Policy Change

We reported a few weeks ago that the PCG had changed previous policy and set up their own Umbrella Company in conjunction with Parasol called Quality Umbrella or PCG (QU).

Previously they had always advised IT Contractors to set up limited companies.

They received some criticism from Barry Roback, the Chief Executive of Contractor Umbrella Company JSA in Shout99.

He reckoned that it would make it more difficult for them to lobby the Government on behalf of contractors, one would presume in the IR35 and other areas.

Better Represented

Rob Crossland, Managing Director of Parasol Ltd, commented that “far from detracting from the PCG’s ability to represent the freelancing community, the provision of an Umbrella Service will enhance their ability to represent the UK’s flexible workers. Providing approved quality services which are well managed and fully compliant will enable PCG to represent a community which is much wider than a perception of only representing limited company contractors, and begin to lobby effectively for a more intelligent view on flexible employment law in the UK and Europe”

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Growing Economy

According to the Bank of England the credit crunch is now over and the economy will continue to grow.

They reckon it will grow by 2% this year which is more than the 1.7% that the Chancellor surmised in the Budget.

IT budgets are growing across Europe by 3.86%.

Skills Shortage

According to Gartner Group

“A decline in consumer confidence seems to be slowing the UK economy more than any real change in market conditions. The result however has not hurt the market for contractors as the need for skilled workers seems to predominate all other trends in the UK market. The need for UK companies to remain competitive is keeping contractors in work here and across Europe as IT budgets are actually getting larger.

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