Would Changing to Freelance Work Benefit Me?
Author: Daniel Stargatt
“What are the benefits of freelancing?” is a question that is asked by every construction professional before they make the change from permanent employment to freelance employment, so we thought it would be helpful to run you through some of the key benefits.
Below is a list of the key benefits of moving to freelance employment:
Working on a freelance basis through a reputable professional agency gives you much more control over your income. You will benefit from taking control of your charge rates within market boundaries, how much work you do, and on what terms. You can also enjoy much more flexibility in what benefits you decide to take up, and how much revenue to award yourself as income in this regard.
As a freelancer, you have the ability to deduct a lot more expenses that permanent employees can’t. Tax deductions can include travel expenses, internet packages and mobile phone packages.
On top of this, if you own your own limited company you could elect to take the majority of your income in the form of dividends, which enables you to manage your own tax liability and potentially save on National Insurance costs.
To find out more about this particular benefit of moving to freelancing, we would advise you to speak to our partner Brookson or Umbrella.co.uk, who are experts in accounting and working with freelancers.
You have more opportunity to move around from project to project and company to company, within reason. This flexibility gives you the peace of mind that you can always ensure you are in the best working and technical environment for you.
Freelancing can be the best way to make a huge number of contacts, as you will be meeting more people throughout the year unless you are on a long contract.
This networking will only increase opportunities in the future and mean that finding your next contracts will be a piece of cake.
Career and Skills Development
As freelancing offers the ability to work with multiple companies and on multiple projects and project types throughout the year, the speed in which you will learn skills and gain experience will also increase.
You will have more exposure to more issues, processes and management styles, which can only be a positive in developing a successful and long career in construction.
This isn’t really a benefit but we thought it is important to mention. The main reason most construction professionals are reluctant to move to freelancing is the lack of security in terms of a steady income. This just isn’t the case, as there are more jobs than skilled candidates and with over 250,000 construction jobs set to be created over the next five years, this will only increase the demand for freelance construction professionals. So don’t worry you’ll be fine!
We hope this has cleared up some of your concerns over moving to freelance employment, and remember we’re here to help you. So if you are looking for more information or you are ready to take your first step into becoming a freelance professional we’ll be with you every step of the way.
If you would like any further information or would like to discuss in more detail please don’t hesitate to get in touch with us.