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For those who have a creative talent, or that have consultancy or project management expertise, starting a freelance business could be a very attractive prospect. Freelancing can allow you to work when you like, and only take on the work you want to do. It can also provide a flexible income that works around your lifestyle.
In this guide, we will cover some of the key steps you will need to take when starting a freelance business, including what niche you will work in, how to make a profit, and more importantly, how to set your business up for success.
Statistics show that freelancing is becoming ever more popular, with the Office of National Statistics revealing there were around 4.24m self employed workers in the UK in July 2023. They predict this number will rise significantly.
There are various risks and benefits, however, to consider when deciding if freelancing is for you. These include:
Hopefully, when you have considered these risks and benefits of starting a freelance business, you will decide that you want to give it a go. If so, there are certain ways in which you can help yourself by starting your business on a solid legal footing.
There are various options open to you, depending on your qualifications and skill set. Examples of careers that can lead to you starting a freelance business can include:
Before you go ahead and start marketing yourself as a freelancer, you should think about starting your freelance business properly.
Next, you will have to plan for success. After all, a solid business plan gives you something to refer back to, and allows you to structure your business in a way that is primed for success. Your business plan should include:
Once you have everything set up and planned, it is time for the best part: starting your freelancing business. There may, however, be some other considerations along the way that may be worth making, such as:
Keeping these questions firmly in mind when planning your business will give you the best route to success. If you need assistance registering your company name, or have questions about starting a freelancing business off on the right foot, Company Formations can help.
Start your exciting new company journey now with Your Company Formations. We are the UK’s leading Company Formation Agents licensed by Companies House
They have an excellent array of services and business tools as a Company, they are perfect for the up and coming Entrepreneurs and the Swashbucklers, established businesses too.
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