The majority of UK recruitment professionals anticipate an increase in company revenue next year, according to a new report from Bullhorn.

The report suggests a largely positive financial outlook for the industry in 2018. However, while 77% of recruitment professionals anticipate an increase in company revenue next year, 70% are concerned about the future impact of Brexit. Moreover, 59% of recruitment professionals are concerned about EU GDPR.

Bullhorn’s report also showed that 52% of recruitment professionals hope to increase their overall technology investment this year. Meanwhile, a quarter of respondents (25%) feel more confident about the future heading into 2018, compared to 10% this time last year.

Peter Linas, Bullhorn’s Executive Vice President of Corporate Development and International, commented on the report, “Recruiters should be optimistic about revenue growth, but they must be realistic: around a quarter of agencies say they actually fell short of their revenue predictions last year.”

“We will see strong hiring demand in 2018, especially in the temporary and contract markets. But to stand a chance of reaching their revenue goals, agencies must be prepared to defend their bill rates and margins against constant pressure,” Linas said.

If you are concerned about Brexit Staffing Industry Analysts, subscribers should read Adam Pode's guidance on Brexit; while Fiona Coombe has written about GDPR.