In speaking, contractions are often used in place of auxiliary verbs such as is, are, am, will, have, has, had, and would.

I am British.
I'm British.

He is Chinese.
He's Chinese.

They are Italians.
They're Italians.

There is a man at the door.
There's a man at the door.

Where is the butter?
Where's the butter?

What is he doing?
What's he doing?

Who is that?
Who's that?

She is going to the beach.
She's going to the beach.

We are going to eat now.
We're going to eat now.

They are not ready yet.
They're not ready yet.

I will be back in a minute.
I'll be back in a minute.

There will be lots of food.
There'll be lots of food.

I have seen that movie already.
I've seen that movie already.

She has finished her homework.
She's finished her homework.

I had played that game before.
I'd played that game before.

We would be glad to help.
We'd be glad to help.

They would like to go now.
They'd like to go now.