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I AM working as an IT consultant for a big company and considering going freelance. What are the pros and cons?
I would like more flexibility in my working hours, but I’m scared about being reliant on myself only.
What are your opinions and advice for those thinking about becoming self-employed? And is there anything in particular I should consider? Richard, 34, Portsmouth
I CAN see that you’re faced with quite a major life decision here, Richard!
I can understand why you are contemplating going freelance – but you’re absolutely right to be very careful in weighing up the pros and cons.
First of all, I can say that it’s definitely going to be a challenge if you do go for it. There’s a lot of competition for any job these days – and the competition for freelance roles is even stiffer.
The biggest “con” is quite simply the lack of security.
You currently enjoy a reasonable degree of job security – and that will be lost.
The other side of the coin, of course, is that no job is ever 100% secure.
What will change most definitely, though, is your security of income.
You’ll have to adapt to having an ever-changing monthly income – and I can tell you from experience that this is something which takes some getting used to. But don’t let any of
ONE of the first are tasks if you thinking of working must be for yourself tax to consider the Make implications. a good sure you get sooner accountant – rather than later! this put you off! The advantages are obvious – the flexibility, the variety and, hopefully, the potential to earn quite a bit more. In terms of advice, I would say that you need to ensure you have a very strong presence on LinkedIn – and work hard on building and developing your network of contacts.
That will be vital. What you know is important; who you know might be even more important!