Strong UK hiring intentions creating numerous opportunities for contractors

Contractors and freelancers will continue to find plenty of opportunities to pick up work in the coming months due to the ongoing demand for talent and skills among the UK's businesses. The latest JobsOutlook survey from the Recruitment and Employment Confederation (REC) has shed light on this trend, with the 600 employers polled generally showing positive sentiments towards hiring. Continue reading

What’s the difference between shareholders and directors?

Setting up a limited company is a popular choice for freelancers and self-employed people as the scope and scale of their operation becomes larger over time. Early on in your freelance career, it can be beneficial to operate as a sole trader and take advantage of the flexibility this can provide; however, as your business continues to grow, you may find the formalised structure a limited company provides could help you take your success to the next level.

Good reasons for keeping a cash reserve

As the funds in your business bank account grow, it can be tempting to take money out of your Limited Company to boost your personal finances. Think twice before you do. To start with, that cash may be needed to cover future payments such as corporation tax, National Insurance, PAYE and VAT payments. You may also have annual charges such as subscriptions, insurance premiums and compliance-related obligations due in the near future. Continue reading

Confidence among freelancers rises to new record high

There has been a pronounced increase in confidence levels among freelancers in the UK over the last few months, a new report has revealed. The latest Freelancer Confidence Index from the Association of Independent Professionals and the Self Employed (IPSE) has shown that 41 per cent of freelancers are optimistic about their business performance improving in the next 12 months, compared to 25 per cent who are not confident. Continue reading

Ten key traits of effective managers

One of the most common reasons why people choose to become self-employed is a desire to get out from under the thumb of a particularly unpleasant boss or manager. We've all had experiences of working under a tyrannical, incompetent or overly bureaucratic superior, which is why it's so refreshing to leave that world behind and work for yourself, accountable to nobody but your good self. Yet as your company grows, you may unexpectedly find yourself needing to take on staff of your own in order to meet your workload - and, suddenly, the boot will be on the other foot. Continue reading