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Do you have what it takes to be a freelancer?

Posted by simontoffel on February 7th, 2013

Did you know that November 21st was National Freelancers Day? If you did know, then you may be currently employed, but curious about what the freelance ‘lifestyle’ has to offer, prompting you to visit this site. Certainly, Freelancer Accounting (http://www.freelanceraccounting.com) is committed to providing the highest quality accountancy services for this section of the UK workforce, but our experience also puts us in a good position to provide advice on what it takes to succeed when self-employed.

You might have presumed that freelancers are all a bunch of jetsetters with salaries far exceeding that of the rest of the population. On that front, perhaps your presumptions aren’t too inaccurate. After all, a recent study revealed that the average freelancer salary is more than twice that of the average British worker, with those in fields like banking, engineering and IT doing especially well. However, freelancing also frequently involves long hours with no holidays, with 40% of freelancers working more than 41 hours a week – and 15%, more than 51 hours a week. There’s no holiday pay, after all.

Indeed, there are other statistics around that tell a story of some perhaps being forced into freelancing, such as the record number of part-time workers in the UK and the 80% increase in the number of freelancers across Europe. Indeed, 1 in 4 of the UK’s 4.2 million freelancers – 14% of the nation’s workforce – admitted to being forced into self-employment having been made redundant. Given the increasing trend for cash-strapped companies to outsource services, it seems that accountants for contractors will be in demand for some time yet!

In truth, freelancers ideally need to have certain characteristics to succeed, with some people simply preferring the comfortable structure that being employed provides. Many of those who make use of our accountants for freelancers find it difficult to say “no” to work as it comes in, not least given the uncertainty of how much work will be available from one week to the next. Those in self-employment are lonelier and need to be ‘self-starters’, proactively seeking out contacts and constantly waking up to work each day, unprompted, and that’s not a transition that some people easily make – even if the rewards are potentially great.

Another potentially complex area to which freelancers need to pay attention is, of course, their own accounting. To be a freelancer at all, you’ll need to be self-confident in your work, so that’s rarely such a big problem… but if you’re one of the many freelancers or contractors who admit to being “terrible with numbers”, you’ve got a potential issue. That’s why Freelancer Accounting (http://www.freelanceraccounting.com) is here to guide you through the various intricacies of freelance accounting and relieve stress, providing you with a well-qualified PCG accountant so that you can spend more time doing what you do best!

Editor’s Note: Freelancer Accounting (http://www.freelanceraccounting.com) is represented by the search engine advertising and digital marketing specialists Jumping Spider Media. Please direct all press queries to Louise Byrne. Email: louise@jumpingspidermedia.co.uk or call: +44 (0)20 3070 1959 / +34 952 783 637.