Contractors key part of startup success

Thursday 11 February 2016

Contractors have a vital role to play in startups, a new survey has revealed. 

Conducted by Flexing It, an online organisation that connects professionals to organisations for part-time assignments, the survey showed that some 90 per cent of startups surveyed require the services of a contractor at least once a quarter. 

Furthermore, 40 per cent of nascent businesses call on the expertise of such professionals on a monthly basis, the Economic Times of India reports, demonstrating just how important contractors are to such organisations.

Some 57 per cent of businesses stated that last year they hired such professionals to help complete work either faster or more efficiently. 

This survey therefore suggests that contractors will may find a substantial amount of work coming from new businesses seeking expertise and greater efficiency. What's more, it also points towards what those businesses are looking for.

Indeed, as well as expertise in a given field, young organisations are on the hunt for professionals who can help them meet deadlines and make their working practices smoother; both are factors that can impact the long-term success of a business.

Furthermore, the fact that startups call on contractors regularly is a clear indicator that such organisations are likely to be a reliable source of work, and therefore that - perhaps to an even greater degree than usual - a strong performance can go a long way to securing regular repeat business.

"The Flexing It platform is very actively being leveraged by startups - 40 per cent of the 1,200 companies using us are startups looking to access experienced professionals on an 'as-needed' basis while keeping overheads low," commented founder and CEO of Flexing It Chandrika Pasricha to the publication.

Startups' reliance on contractors is not the only positive news to reach the industry recently. Earlier this month, the Freelancer Confidence Index from the Association of Independent Professionals and the Self Employed revealed that the final quarter of 2015 saw a significant rise in freelancer confidence compared to both the previous quarter and year-on-year.

Some 35 per cent of freelancers expressed confidence in their business outlook for 2016, translating to a +9.8 score for business confidence in the final quarter of 2015, compared to +2.4 the previous quarter and the same month the previous year.

Perhaps most interestingly, several freelancers surveyed agreed that companies adopting flexible working had a positive impact on their business performance.

This upswing in confidence paired with the value startups place on contractor expertise helps to paint a positive outlook for 2016.

By Victoria McDonnell

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