If you are thinking of freelancing in order to take control of your career and find job satisfaction, you need to plan how you set up your business. As soon as you start working as a freelancer you are a business and need to manage your paperwork and finances accordingly.
If you are considering a future of freelancing it is worth planning now so that you learn the most sought-after skills. Some skills are always in demand for freelance work; for example, computer skills. However, to earn good money in IT you need to specialise, so become an expert in a specific programming language and also knowledgeable about all others. Programming languages such as Java, Python, Objective C and Ruby on Rails are all currently in high demand.
Tips on getting started
Getting started is always the hardest task. Your first objective should be to get your first contracting role. Having some experience under your belt will allow you to quickly move on to better pay and higher profile jobs on exciting projects.
To land your first few jobs you need to market yourself. Today, this involves setting up social media profiles on sites such as LinkedIn and Google+ and ensuring that your CV and associated documents are all up to date and relevant for the roles for which you are applying. If you are changing the focus of your career, it is vitally important to update your publicly viewable profiles to avoid confusion. Speak to a recruitment consultant to learn how to improve your public profile.
Tips for handling the financial side
Working for yourself can be very satisfying, but it can also be difficult and stressful. Many contractors earn very high wages for their work and get paid a day rate. If you land such a job you may find that you are working long hours and the last thing that you wish to do at the weekends is to process your paperwork and manage your accounts.
Fortunately, there are many business support services that will take care of all your administration so that you can concentrate solely on what you do best – the work. These services go by the name of an Umbrella Company because they essentially cover all of your business administration and financial details.
Not only do they do your paperwork, they will pay you a monthly salary based on your taxed earnings. Many contractors struggle with their annual tax returns, and some make the mistake of spending too much of their gross income and struggle to pay their annual tax return. Using an umbrella company means that there is no need to hire an accountant and you get all of your paperwork, invoices and bills processed as well.
For many people with a highly skilled profession, contracting is the most rewarding way to work. It provides you with financial security, exposure to a wide range of business environments and the opportunity to work with some of the most innovative businesses.
Family Magazine
If you wish to be in total control of your career, the best option is to build some solid experience as a freelance contractor – the money is good and you have much greater flexibility in the work you do.
