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The complete guide to freelancing*

The complete guide to freelancing*. Paul James Head of Commercial Development, PCG. What is PCG?. A hub for knowledge and community. A dedicated voice for the freelance workforce. Standing up for freelancers. The freelance market. c. 1.6 million freelancers in the UK

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The complete guide to freelancing*

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  1. The complete guide to freelancing* Paul James Head of Commercial Development, PCG

  2. What is PCG? A hub for knowledge and community. A dedicated voice for the freelance workforce.

  3. Standing up for freelancers

  4. The freelance market • c. 1.6 million freelancers in the UK • Work in virtually every sector • The turnover of the UK’s freelance community is £82 billion • Contractors, consultants, interims = freelancers

  5. Why do clients use freelancers? • Knowledge on tap • An objective viewpoint • A results-driven approach • Flexibility • Cost-effective support

  6. So you want to be a freelancer? • A different Risk/Reward model • Working through a contract • Paid by the day, hour or even on fixed price project basis

  7. What do you get out of it? • be your own boss • variety of working on a range of projects • having potential to earn more money • freedom and better work/life balance

  8. What do you get out of it? (cont.) How do freelancers describe their mode of working? • So... it’s not for everyone • * COMRES survey for National Freelancers Day 2009

  9. The trade-off • Increased risk of fluctuating ‘earnings’ • Running own business • More uncertainty • Lone working • 100% accountability • Offset this against being own boss, with more money (?) and freedom (??), better work life balance (???) • Recession provides a fresh challenge

  10. The successful freelancer • adaptable and mobile • good people skills • passing knowledge on without criticism • knowing when to challenge the status quo • being aware of new opportunities • pro-active in seeking next contract

  11. The successful freelancer • has a multi-client portfolio • regular contact with client database • brushes up on skills to adapt to change • ensures first class reputation with clients

  12. Setting up as a freelancer • Limited company? • Umbrella Company? • Sole Trader? • PAYE through an agency?

  13. Your own limited company • Accountant/Company formation bureau • PCG ‘one stop’ service • You are not the same as the ‘ltd’ company • Law sees company as separate person

  14. Umbrella arrangement? • Umbrella provides ready made invoicing vehicle • Freelance contractor is employee of umbrella • Individual is caught by IR35, but can claim travel/subsistence expenses • Fees charged by umbrella service, but worker still better off than PAYE employee • Purpose of umbrella is simplicity of operation

  15. Sole Trader? • Suited to ongoing multi-client services • Smaller and straightforward to establish • No need to advise Companies House • Cannot work through agency • Register with HMRC • No separate legal existence… unlimited liability

  16. Growing a business • Marketing critical to success! • No 2nd chance to make 1stimpression • Portfolio is strongest sales tool • You are the ‘product’ delivered by your company, so refresh it regularly • PR/web site/social media can assist • Do not rely on ‘word of mouth’ • Price your ‘product’ sensitively • Seek out networking opportunities

  17. Your sales process • Your business now has a sales function and you need to focus on this PROJECT PROJECT SALES PROJECT PROJECT PROJECT SALES

  18. Managing the engagement A clear brief and written contract • Establish clear objectives and deliverables • Less defined projects can be split into stages (agree deliverables of each stage) • Timescale/milestones • Working place/Modus operandi • Changes agreed in writing • Reporting lines, approvals, authority levels • Regular formal dialogue/review meetings • Evaluation/exit

  19. Conclusions • Freelancing is vital to the economy • The market is tight • You are now in business • You need to define your brand and market yourself • You need self-discipline • Managing the engagement is key • Get to know PCG!

  20. The complete guide to freelancing* • this wasn’t quite it • But… this is: • PCG’s Guide to Freelancing can be downloaded free at…

  21. Putting the ‘free’ into ‘freelance’ • pcg.org.uk For free guide, resources, newsletter & events see also • freelancingmatters.com

  22. Thank you Paul James Head of Commercial Development, PCG

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