Permanent employment offers stability and consistency, however if it’s not working for you anymore, it might be time for a change. Self-employment gives you the opportunity to control how and when you work. Read our five top tips on how to make your journey into contracting as simple as possible:
1. Write a high-impact CV
One of the first things you need to do when starting out as a contractor, is create your contractor CV. Don’t panic, our top tips will point you in the right direction. Your potential clients are looking for the right skills and knowledge, and your CV is a perfect opportunity to show these off. The main thing to remember is to highlight your best skills whilst sticking to the point.
2. Umbrella or limited?
If you’re new to contracting, it may be worth considering working under an umbrella company. Umbrella companies take care of the bulk of your administration and deductions will automatically be made from your income. If you’re not sure whether to follow the umbrella route, our handy tool will point you in the right direction.
If you expect to earn over £25,000 per year, then forming a limited company may be the right option for you. Your take home pay will generally fall between 75% - 80%, which is considerably more than if you chose to work under an umbrella company. Deciding to work as a limited company director is certainly an exciting step in your career, however you will be expected to complete more paperwork each month. Are you considering the limited company route? Our company formation service is designed to make this easier, leaving you to concentrate on your new venture.
3. Know your rate
A benefit of self-employment is that you can choose your daily rate; this generally pays more than permanent employment. Rates do vary depending on your skillset and choice of market, research is key! You need to ensure that your rate is right for you.
4. Network, network, network
Networking is essential, especially when working as a contractor. There are useful ways to make networking simpler. Firstly, LinkedIn is a simple way to build your contact list. Once you have a few connections, you can begin your search for contracts and clients. The platform also gives you the chance to receive recommendations and reviews.
Secondly, networking events are a great way to meet and connect with people in the same industry. You can promote your services, whilst gaining knowledge from those with experience. IPSE holds several events for contractors throughout the year. Why not sign up to one?
5. Deciding on your workplace
Your workplace needs to be somewhere in which you feel comfortable working in. The opportunities are endless when it comes to design, however this is your workplace so tailor it to your requirements and make it your own. Being thrifty is also a good idea if you want to save money. There is also the opportunity to work in other locations, such as your local coffee shop or shared office space.
With you all the way
At ClearSky, we want to make your transition to self-employment as simple as possible. That’s why we created WorkStyle, our publication dedicated to contractors. There’s advice about beginning your journey, securing your first contract, and important legislation. Download your free copy here.