The C+D Salary Survey 2018 – which ran throughout October – has revealed that 83% of contractors in England experienced a decrease in their personal income over the previous 12 months. The survey also revealed the average income decrease was 15%.
“Catastrophic” effect on profit
Contractors identify the funding cuts as the biggest threat to their businesses, with one pharmacy owner describing the effect as “catastrophic” on their profits, cashflow and income.
“I had to put in £100,000 of my own money to survive,” one contractor says, while another says “dispensing is down about 20%”, and “the value of the business [has] dropped by about £200,000”.
One contractor reports their net profit is down by 40%, while another says their “gross profit reduced by 8% [and]