Contracted-Out Services - Market Review

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(Free-Press-Release.com) April 14, 2007 -- Contracted-Out Services - Market Review

In 2003, the UK market for contracted-out services was worth an estimated �232.63bn at current prices, based on the turnover of firms operating in this sector. The market's value grew by 6.4% in 2003, producing a real growth rate of 3.6% after taking into account price inflation.

This Review covers the activities of ten separate and distinct sectors: canteens and catering; computer and related activities; research and development; legal, accounting and market research services; architectural and engineering services; advertising; labour recruitment and personnel services; investigation and security services; industrial cleaning; and washing and dry cleaning. For the sake of completeness, the Review also includes a `miscellaneous business activities' sector. Of these sectors, investigation and security services recorded the highest growth rate in 2003, at 13.6%. Real growth in this sector was just 8.1%, as a result of sector inflation of around 5%.

All sectors owe their existence to the fact that companies contract out operations that might otherwise be carried out by employees of the firm. Some small firms simply do not have the ability to conduct certain tasks, because their existing staff do not possess the necessary skills and it would not be economical to take on full-time, or even part-time, staff to carry them out. This is particularly true of professional tasks such as book-keeping, the provision of legal advice and the undertaking of market research. Reasons why larger companies might decide to contract out certain activities include cost savings, the increased quality of service resulting from the use of specialist skills, and the increasing need for managers to concentrate on a company's core activity.

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