Westrow Drive, United Kingdom (PressExposure) September 18, 2009 -- Umbrella Companies are looking forward to a bonanza when the economy picks up. Always when a downturn ends and the economy picks up, client companies look to taking on contractors rather than taking on permanent employees and Umbrella Companies stand to benefit from this.
Indeed it is a double whammy for Umbrella Companies as they make hay in two ways. First of all more of their existing contractors get back to work and earn money again.
Even better there will be a new batch of permanent employees looking to become contractors. As these potential new contractors tend to have more up-to-date skills than many existing contractors who they are often first in line for new contracts.
With each new downturn and upturn in the economy a new breed of contractor emerges and that is good news for Contractor Umbrella Companies.
The UK economy appears to be at a turning point. Companies will be looking, shortly, at reviving those mission critical projects that they put on hold after Lehman Brothers collapsed and economies worldwide took a nosedive into what seemed at the time as the abyss.
Those who laid off permanent workers will not, because of existing employment laws, be able to take on new permanent workers to replace them. So, theyâll have to either put the projects on further hold or take on contractors â and the second option is much more likely.
Said Gerry McLaughlin of http://www.ITContractor.com âBy the end of the year and early next year we will see companies start to take on new contractors as they get their budgets for 2010. They will dust off those major projects which have been queued up waiting to go. This will be good news, first of all, for Project Managers and Systems Architects and then it will trickle along the Supply Chain to Business Analysts and Developers. This should be very good news both for IT Contractors and Umbrella Companiesâ.