W hilst the world of freelancing is one of risk and instability, for many it can also be one of high rewards and an improved work life balance. Taking the first steps out of a salaried job and going it alone can often cause anxiety arising from a lack of stable income, a fixed place of work and a sense of unease as to where your next income stream is coming from. But since the early 2000s freelancing has been on the up. For millennials in particular, who have been brought up with the technology which allows them to work from home, being able to control one’s own hours and utilise a broader skill set has only increased the attraction of self- employment.
According to figures from the Office of National Statistics, the number of people registered as self- employed is continuing to rise. Adviser spoke to Ryan Pearcy, Business Advisory Director to take a look at why he thinks this trend is happening and what anyone considering going freelance should consider when making the leap from paid employment.
So what’s stopping people from going freelance? In many cases the fear and confusion around how to manage their own business finances has been enough to prevent people from taking the leap into starting their own businesses. But the increase and accessibility of business and accounting software has brought about an evolution in setting up as a freelance or contractor. According to Ryan, it has never been so easy to manage your own business. ‘There are so many pieces of software out there. Even just by going into Google, you can access cloud- based systems which are easy to use and often free. Take task management for example: freelancers can be working on multiple projects at once, each one of which contains multiple tasks. Combine this with constant travel and deadlines can be easily missed. Software solutions such as Asana and Trello can enable you to manage tasks on a cloud-based platform which means you can share progress with collaborators and or your client and set deadlines.”
PLANNING FOR THE FUTURE
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