IT Contractors and Veterinarians Report
According to a New Report by Integro Accounting IT Contractors and Consultants are increasingly confident for 2023. The only other profession that ranks up there for market confidence is Veterinarians.
Other sectors such as retail, housebuilding and hospitality are way behind in terms of confidence for the new year.
Business Confidence by Sector
Thousands of businesses in multiple sectors were asked “How much confidence do you have that your business will survive the next three months?”
89% of contractor and consultancy businesses said that they were highly confident. Only 1% said that they were not confident.
The confidence levels are up from 79% and 76% in the previous two years which were pretty good years themselves. So, it looks as if 2023 will be a bumper year for IT Contractors.
IT Contractors Increasingly Confident for 2023
Indeed, 57% of IT Contractors and IT Consultant businesses thought that their business performance would increase in the coming year. That compares to a tiny 2% who didn’t think their business performance would increase. That’s an astonishing difference and really bodes well for the new year. That’s a real vote of confidence in their prospects for 2023.
Only Veterinarians can compare with IT Contractors / Consultants with 57% of them also expecting their business performance to increase. However 13% of Veterinarians thought their business performance would decline compared to just 2% of IT Contractors / Consultants.
UK Tech Sector Rebounding
According to Integro Accounting “Despite the economic upheavals of the last few years the UK’s tech sector is rebounding strongly at a time when many other sectors of the economy are contracting.”
So, what is driving this boom in IT Contractors and consultants in the tech sector?
According to Integro Accounting “Businesses are continuing to invest in digital transformation projects to drive productivity gains as a way of lessening the impact of inflation. This should provide a boost in demand for tech skills.”
While many other sectors are unable to pass on inflationary increases to their customers, strong demand for software and IT services puts tech businesses in a relatively stronger position when negotiating price increases with customers.
So, roll on the 2023 boom for IT Contractors / IT Consultants.