Is contracting the job for me?
Striking out on your own is a big move and you need to be 100 per cent sure it’s the right choice for your before you take the plunge.
Becoming a contractor is becoming an incredibly popular way of working and figures from the Office for National Statistics found that more and more Britons are becoming self-employed.
The number of freelancers, sole traders and contractors in the UK is now at 4.37 million – an increase of 172,000. This is an all-time high for self-employment and makes up 14.5 per cent of the total workforce.
However, if you’re considering becoming a contractor you’re bound to have worries and doubts about the process and the pressure you’ll be under.
Here are a few things worth considering if you want to become self-employed.
You make the rules
Wave goodbye to the days of someone else telling you when you should be working and when you can take a holiday. As a contractor, you can enjoy much greater flexibility with your schedule and you can pick and choose who you want to work for. This means you can really tailor your job to your strengths and passions.
As a contractor you can demand a much greater rate than a permanent employee. When you’re self-employed, you hold all the cards in negotiations. Businesses need talented temporary workers to plug the skills gap which is taking root in many organisations. Consequently, they’re willing to pay the big bucks to secure the best workers and remain competitive.
You’ll never get bored
If you thrive off variety, then contracting is certainly the route for you. Because you can pick your own jobs and contract duration, you can collate a healthy mix of projects to satisfy your varying appetites. You won’t get chance to get bored in one job and if you do, you’ll have the comfort of knowing that you’ll be taking on a different challenge in the immediate future.
Responsibility falls to you
While it’s great to be in charge of your own job, as a contractor the responsibility for things like tax and finding a new position falls largely on your shoulders.
Some people aren’t a fan of this pressure and enjoy the perceived security of having a fixed employer. However, there areumbrella company UK services like Tarpon that can make things much easier.
Whether helping you find the next job or dealing with your accounts, contractor services are indispensable for ensuring you comply with the letter of the law and thrive in your new profession.
Is it the right fit?
While the lifestyle of being a contractor might sound ideal, you do of course have to consider if you’re cut out for it.
You need to be a certain type of person to make this way of working go off successfully.
At a basic level, you need to be able to move from place to place. Consequently, being a driver is a big bonus.
You should also be sociable enough to cope with constantly having to meet new people. Similarly, it helps to be adaptable; easily slotting into new environments.
Having initiative and a willingness to educate others is also a bonus. While you may only be at a place for a short while, they are paying for your services and should get the most out of you, whether that’s efficiency or expertise.