The recent news of an extra boost for the umbrella company industry, in the form of a £1 billion grant, could support half a million jobs.
The new year could be the year for umbrella companies as the industry is boosted by an extra £1 billion injection in the Regional Growth Fund (RGF), assigned to help 500,000 people find jobs in 2012. The decision to award the RGF with an extra £1 billion is not only going to be beneficial for workers, but also those in the umbrella company industry.
A spokesperson for Tarpon explains:
“The news that the RGF is going to benefit from extra money really is fantastic because it'll help give the employment market a really great boost in time for 2012. The RGF is a two year fund that's designed to support a number of projects and programmes that create economic growth and sustainable employment. So getting this extra money means that half a million people could potentially get a new job that could last them a very long time.”
The news of the extra money, which was delivered by the Deputy Prime Minister, Nick Clegg, during a visit to the north-west of England earlier this month, has been welcomed by a number of industry insiders and job seekers alike. The focus of the fund will not only help get people into work, but also encourage private investment in the public sector. This is the second piece of good news for the umbrella company industry in as many months, as new figures from last month show that the demand for contractors has continued to rise.
A spokesperson for Tarpon continues:
“For every £1 of public money put into the RGF, the private sector will put in £5, which will help jump start growth across the UK. This, coupled with the news that the number of employers that have taken on contractors has grown for the 28th consecutive month in November, means that we anticipate that 2012 is the year for the umbrella company.”
Tarpon is an umbrella company specialising in contractor tax efficiency, enabling contractors to maximise their income and streamline their admin.
Tarpon UK Ltd,
Wigmore Park Centre,
tel: 0800 434 6402