According to a new survey of over a thousand contractors by Procorre, an international professional services consultancy, contractors are seeing a major increase in contractor prospects in their sector.
47% of contractors say that contractor prospects have increased in the last year, whereas 20% say contractor prospects have decreased in the past year.
It’s even better for next year as 57% of contractors say that contractor prospects will increase in the next years whereas only 17% say that they are pessimistic about contractor prospects over the next year.
Only 34% of contractors found it easy to get work over the last year but they expect it to get easier in the coming year.
Contractors are getting increasingly confident about the market as the economy picks up.
According to Lisa Mangan, Relationship Manager at Procorre: “Some contractors have found opportunities hard to come by over the last year but the majority are feeling buoyant about the outlook for the next 12 months.”
“Project budgets were hit by the recession but as businesses start to increase spending contractors should reap the benefits. Businesses are dusting down and investing in projects that were previously put on hold until they were in a more economically secure position.”
Next Year Better
It seems that contractors are more confident about contractor prospects for next year.
Said Lisa, “As businesses increase their spending there is a real feeling that the economy has turned the corner and there will be many more projects for contractors to get their teeth into.”
â€œDuring the recession, some contractors felt insecure about their job prospects but the recovery is allowing contractors to be less wary and more hopeful for the year ahead.â€
It’s been a long, long downturn but it finally looks as if contractor prospects are improving by the day. Rates are not rising yet but they have stopped falling. Once more contractors get back into the market, rates should start rising again.