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What does uncertainty over Brexit mean for contractors?

The uncertainty over a possible Brexit is bound to have an impact on business and industry. There is a while to go before the referendum takes place on June 23rd. Media coverage is only just ramping up and we are definitely going to hear a lot from both sides of the debate over the next month.

Uncertainty is only likely to increase until the outcome is known. The Financial Times poll is currently showing 47% in favour of staying in the UK and 40% in the leave camp with the remainder undecided.

Even after the referendum if the vote is to leave Europe the uncertainty will continue for some time while the impact of the change unfolds.

There is an argument that the current situation is working in favour of contractors and subcontractors. Some businesses are reluctant to recruit permanent staff during the current climate; this could result in more choice and opportunities for contractors.

If Britain votes to remain then most experts predict that business confidence will grow at least in the short term. This might well result in employers looking to recruit more permanent staff but confidence is also likely to provide a boost to the economy overall. This can only mean good news for the contractor community.

It is impossible to predict what impact an exit will have on UK contractors and industry. There are obvious concerns relating to freedom of movement. British contractors who work in Europe will undoubtedly have concerns that there will be fewer opportunities available to them or that working within Europe will involve too much bureaucracy or become more difficult. Likewise business owners and employers who regularly use workers from Europe to fill the current skills gaps in the UK workforce will also have concerns.

Whilst some contractors are worried about the implications for working within Europe others feel that an exit will open up opportunities further afield.

If you are amongst those who are still undecided you still have some time to consider your position before voting on June 23rd.

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