Five signs that you`re ready for self-employment

Everything is starting to feel a bit fresher and warmer. But sometimes the signs of spring can make going into the office every day feel like more of a slog. April is a great time to consider your position and decide whether you are ready for your next challenge.

Many contractors held ‘normal’ jobs for years before they decided to go it alone and take advantage of the freedom, flexibility, and financial advantages that can come with being self-employed. But how do you know when you’re ready to take the plunge, leave the 9-to-5 and take the reins of your own company?

Here are five signs that it might be time for you to go self-employed:

Your reputation precedes you

If you are fighting off calls from headhunters, or if clients, customers or partners of your current employment keep trying to twist your arm into doing some extra bits for them ‘on the side’, then you should definitely consider giving contracting a go.

Your expertise and experience are clearly visible to others and therefore should be easy to market, and you have a pre-existing group of potential clients to target for those precious first few contracts.

Don’t hold me down

Many of our clients describe their move into self-employment as resulting from frustration in their previous roles. Perhaps it grates on you to see the organisation you’re working for operating inefficiently. Perhaps you’ve tried to propose new ways of working that have been shot down.

Maybe you feel like you’re carrying a lot of dead weight within your current team. Step back and consider whether you could carry out a similar role as a contractor or freelancer, but with the bonus of being able to operate exactly as you wish, and using your own best judgement.

You’ll be able to make changes to your business quickly and responsively, because you’ll have full control!

Better off alone

If you do your best work when you’re tackling tasks on your own, and you find yourself getting irritated and distracted by office chit-chat rather than joining in, contracting or freelancing could be for you. Working from home can be isolating for some, but others relish the focus, quiet and serenity it can bring.

Daydream believer

Maybe you’ve spotted a gap in the market or thought of a new way to offer a service . Either way, day-dreaming about what your logo would look like, which customers you’d approach first and what your ‘elevator pitch’ for your business would be is far more interesting than that spreadsheet that your boss actually thinks you’re working on. Maybe it’s time to make that dream a reality?

Bend, don’t break

There are lots of reasons why you might need a more flexible working schedule. Your circumstances have changed? perhaps you have a baby, an elderly or sick parent, or even a new puppy. Your relationship is feeling the strain of excessive overtime. You’re feeling burnt out by a long, rush-hour daily commute.

One of the biggest draws of contracting and freelancing is the ability to set your own working hours and schedule. If this sounds appealing, maybe it’s time to start drafting that notice letter.

Becoming self-employed is a huge step, and although it is full of excitement and joy, it can also provoke some anxiety, especially if you’ve never stepped out on your own before. But there is one easy way to alleviate some of that worry: take out a comprehensive business insurance package that covers you against some of the legal stresses and strains that employees don’t have to worry about.

Kingsbridge Contractor Insurance offer one simple package that combines five different types of cover to provide everything you need when you’re just starting out. We offer an easy sign-up process and explain all the different types of cover in plain English? no jargon here.

You can get a quick quote on our website, or if you’re feeling a bit lost, call our team on 01242 808740 and one of our friendly advisors will help you get on your way. This is a big move and there’s no need to do it alone.