New to contracting? Here’s what you need to know

 In Contractors & Freelancers

If you’re new to contracting, wrapping your head around everything you need to know can be a real challenge.

We’ve used our extensive contractor accounting experience to come up with a list of five key points you should consider before pressing on.

5 things to consider if you’re new to contracting

Let’s take a closer look:

  1. Contract work: It’s engaging and can offer more variety than full-time work. There are contracts for workers of almost every skill level, so willpower should be enough to find work/hone your abilities.
  2. CVs and interviews: Your CV and interview technique are about to become much more important. Take time to hone your application documents and interview technique as far as possible.
  3. Marketing yourself: Don’t just learn how to meet generic contract terms. Take the time to establish your USPs, then market yourself online and in each of your contract applications.
  4. Getting paid: Choose your preferred payment structure (umbrella vs limited company), determine your market rate before applying and be confident in negotiating towards this figure.
  5. Managing time: Being your own boss means taking charge of your schedule. Make sure to factor in time for client management/communications and give yourself an appropriate amount of holiday.

There is so much more to learn about becoming a contractor. You need someone on your side with the right financial expertise to guide your development.

Call on 3 Wise Bears for more expert contractor financial advice.

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