Happy Birthday Parasol
Happy Birthday Parasol
UKs favourite umbrella company celebrates 10th Anniversary
Parasol, the UKs favourite umbrella company, is celebrating its tenth anniversary this month, having looked after the needs of almost 37,000 contractors since launch and ensuring the payment of over 2.1 billion in wages during the last decade.
In a period of time that has seen fundamental changes forced on contractors and the way they manage their businesses, Parasol has consistently offered the highest levels of service, handling over 173,300 contracts, processing over 1.2 million timesheets, and completing over 860,000 payrolls for the UK flexible workforce, with 98 per cent of the money that comes in to Parasol paid out the same day.
The Parasol family now also includes ClearSky Accounting, acquired in December 2008 in order to provide specialist, no-nonsense accountancy services for contractors and freelance professionals wanting to operate their own limited company.
Commenting on the anniversary, Rob Crossland, founder and chief executive of Parasol, said: As a former IT contractor myself, I felt we had a good understanding of the industrys needs when we launched the business and the success of Parasol during the last ten years backs this up.
The industry itself has seen some highly significant and far-reaching changes during the last decade, including the introduction of IR35 and the changes to MSC legislation, and we have worked hard to help contractors navigate through them. However, our aim has remained constant, to be the UKs favourite umbrella company by offering the highest levels of service and compliance.
The next decade will be just as challenging as the Agency Workers Directive comes into effect, the impact of which remains largely to be seen. We also have a potential change of government, which could also impact on the professional contractor sector. Finally, the Freelancer & Contractor Service Association, of which we are a founding member, has begun to mature as an organisation and will continue to lobby on behalf of the industry and contractors, as well as work towards transparent and robust self-regulation.
We believe that the flexible workforce in the UK makes an invaluable contribution to the UK economy and needs to be recognised accordingly. We are now looking forward to the next ten years, working with contractors in a wide range of industries and helping them to operate in a compliant, tax efficient way, giving them the peace of mind to focus on their latest contract and doing what they do best.
The Parasol team is extremely proud of the large number of business awards and accolades it has achieved in recent years including the APSCo Staffing and Service Provider of the Year Award in 2005 and 2007 as well as regularly featuring in the Sunday Times Top Track 250, Sunday Times Fast Track 100 and the Sunday Times Best Companies Award.
Rob concluded: The acquisition of ClearSky Accounting demonstrates our commitment to the UK contracting industry and we will continue to look for more opportunities to extend the Parasol family. The purchase was the first of several planned strategic acquisitions and part of Parasols ambition to become one of the biggest and best contractor service providers in Europe. We want to be seen as the one stop shop where all a contractors career requirements will be met from first job to retirement.