If you are interested in taking that bold first step into contracting and are unsure where to start you might want to consider these key steps:
- Research the market – are your skills in demand? If they are, what is the going rate? By researching the contractor roles that you may be interested in applying for you will start to develop an understanding of what your earning power as a contractor could be. There are many contractor job boards and recruitment agencies that will help you identify potential roles.
- The role you apply for will be for a specific project and will require a specific skill set; you should remember this when adapting your CV. As it’s a temporary position recruiters are less interested in information that isn’t so relevant to the position you are applying for.
- The world of contracting is fast moving, in most cases you will be expected to start your new role quite quickly and you should appreciate that if you have to work a notice period for your permanent job it might count against you.
- Decide how you want to manage your contract and get everything in place so you are ready to start your new role at short notice; this will usually mean engaging an Umbrella Company or setting up your own limited company. Your agency or end client will want you to have one of these options in place in order to protect them from potential liabilities.
- IR35 – before you enter the world of contracting ensure that you are aware of how these rules might affect you
You may also find the following pages useful: