The Benefits of Freelancing as a Sole Trader
There are many different types of freelancers, but in the main they all have one thing in common. They all provide a service or a skill set which their clients could choose to gain access to by taking on an employee instead - with all of the expenses and responsibilities which that brings.
Often, your clients will not be experts in whatever it is that they decide to use you for. So they either have to employ someone to do it for them, or look for outside assistance from professionals. Hence the opportunity for freelancers is born. In recent years, with the development in remote working technology and in the use of the Internet, it is now far easier to work ‘virtually’ for a number of different clients than it would have been even five years ago.
By freelancing for one or more clients you can generate an income which is often better than a full time employee salary, whilst also enjoying the benefits of being your own boss. But this is not unreasonable, bearing in mind the lack of holiday and sick pay, and the other additional benefits which are lost when moving from permanent employment to freelance work! Our Freelancer Calculator will show you how much you can potentially take home as a sole trader.
As well as having the ability to command much higher hourly rates of pay than permanent employees – especially if you are prepared to put in the extra hours, you also have the option to take on as many clients, and as many projects as you like – with total flexibility in your business structure.
All manner of freelance business types have sprung up over the last few years, from the more traditional domains of freelance copywriting, journalism or photography to the more recent freelance marketing specialists, web developers, project managers, PAs and so on.
Benefits for your Clients
The benefit from your clients’ point of view is that they can gain access to a wide range of services which freelancers provide – and what’s more, they can choose to only pay for these services as and when they need them. Clients often do not have the budget to employ someone full time, even if initially they might think they want to, which provides a perfect opportunity for freelancers to show their worth. Using a freelancer is efficient, flexible and cost effective. Three things which most businesses today are certainly looking for.
For more advice on how Easy Accountancy can help you and business, or to find out more about our fixed fee packages, please call 0500 234 111 / 01442 275767 or email email@example.com.
If you are considering making the move to freelancing then the following pages may also be helpful:
- Freelancing Part Time - can you freelance whilst still in your permanent role?
- Sole Trader or Limited? - which route is right for you?
- Setting up as a Sole Trader Freelancer - what you need to consider when setting up as a freelancer
- VAT and NI - how do VAT and NI affect you as a freelancer?
- Freelancer Insurances - what insurances do you need as a freelancer?
- Freelancer Take Home Pay Calculator - how much more could you earn by going freelancing?
- Finding Freelance Work - how to find your freelance roles
- Freelancer FAQ’s - all your questions answered