Businesses and self-employed consultants beating the recession

Self-employed consultants are earning more on average than a year ago, despite the recession. Results from online consultantís network, Skillfairís www.skillfair.co.uk, annual survey of independent consultantsí fee rates, show a 7.5% increase from last yearís rate of 560 per day to an average of 602 per day this year.

With the number of management-level redundancies on the rise due to the global downturn, Skillfair has seen a 70% increase in membership over the same time last year. Despite the economic crisis, 78% of the consultants surveyed expect to do better than or as well as last year, as many businesses choose independent consultants over the employment of permanent staff. 60% of respondents expect to grow their business this year due to this trend.

ìItís not all doom and gloom,î said Skillfair member Clive Campling of Jigsaw Business Networks. ìIím already seeing more projects come our way this year than last. Companies seem to be investing in qualified consultants rather than full time staff as a result of the recession. Thereís less risk to them and weíre often able to get the job done more quickly as weíre hired to focus on a single project, rather than full-time employees who tend to get pulled in multiple directions at once.î

ìWe still have plenty of work that needs doing but pressure on budgets means we have less people to do it,î said Skillfair client,Ian Duncan of www.whatsmybrand.com. ìHiring skilled consultants for projects is now an essential part of our business strategy. Even with higher rates, consultants still save the company, time, money and are less risky than investing in full time employees, especially in these uncertain times.î

ìItís good news for the industry that fee rates are up this year, but itís important to note that consultancy shouldnít be viewed as a quick fix in tight timesî said Gill Hunt, Skillfairís managing director. ìAlmost 40% of our members have been self-employed for over ten years and have developed trusted relationships with clients who understand the value of hiring skilled consultants. Employing consultants as part of a business strategy is a trend that will outlast the recession.

Full survey results available at: