Why Freelance?
THE PROS AND CONS OF FREELANCING
If you are looking into getting into freelancing, here are some pros and cons for you take into consideration.
THE PROS
GETTING WORK
In times of uncertainty and mass redundancies, permanent roles are in short supply and the competition for them high.
The boardroom is focussed on cutting overheads and improving efficiency. With the need for digital construction competency increasing, freelance BIM experts are a more risk-free option compared to full time recruitment and demand is likely to increase.
FLEXIBILITY
One of the key benefits is freedom and the flexibility. If you are restricted, whether you have childcare to worry about or are concerned about work-life balance, freelancing can offer you refuge. Freelancing can allow you to set your own time of work, how long you work and where you work. This can be a huge benefit, allowing freelancers to be able to spend time with their family or take care of their children whilst still being able to work.
Keep in mind that organisation is key, and you will still have to put in a solid number of hours to make your freelance business work.
MONEY
When you are an employee, you will likely only see a small increase in your salary on a yearly basis. However, when you are a freelancer, you can demand more. Of course, you need to have competitive rates but if you establish yourself as an expert in your field you can make more money. It will also mean that more you work and the bigger projects you take on, the higher your income will be. Additionally, if you are running your business as a limited company, you will likely be taxed less than if you were an employee.
BE YOUR OWN BOSS
You are your own boss, and if being an employee feels like being confined in your role, then freelancing may be for you. You make all the decisions; from the hours you work to the project you choose to work on. This can be liberating for some people and allows them to flourish.
BUILD SKILLS
As you will be your own boss and owner of your business, it will push you to build on your skills. This can be a great way to expand your abilities and increase your reputation as a digital construction expert.
NO COMMUTE
You will likely have the choice of working from home – at least some of the time – especially post Covid. You can completely eliminate lengthy commutes to the office and save that time for work or anything else that may require your time. Some commutes can take hours out of your day, they can be long and stressful and put you in a bad mood before you even get to work. The benefit of working from home comes with the responsibility of you making sure that you work productively and effectively from home.
RUN A BUSINESS
When you become a freelancer, you will be running a business. You will be the only one reaping the rewards of your hard work and effort.
CHOOSE WHO YOU WORK WITH
As an employee, you have little to no choice of who you work with. Your boss will hire employees they think are right for the business. You don’t have to work for clients you can’t stand working with or deal with the colleague from hell.
As a freelancer, you can set your own rules and work with people and clients that fit with you. However, this does not mean that you may on occasion have to work for a demanding or an annoying client. But you will have the option of not working with them again if they really make your life difficult.
THE CONS
ADMIN TASKS
As a freelancer you are essentially a business owner and will need to carry out the admin tasks too. You can avoid many of the time absorbing challenges by using companies in our business resource section – like Crunch who will sort your finances and do your accounts, virtual Assistants etc.
LONELINESS
When you work by yourself as a freelancer it can be lonely. The office can be loud and full of distractions in the form of colleagues etc., however, you may find that working by yourself isn’t much fun. Sometimes colleagues can be great play a part in your support system.
LACK OF EMPLOYEE BENEFITS
If you want to take a holiday or are forced to take time off because you are sick, you won’t get paid. This means that freelancers need an emergency fund if they are not able to work or want to take time off. Other employer benefits may include pension schemes, private healthcare etc. which freelancers will also miss out on. These costs should be included in your charge rate.
IRREGULAR INCOME
This used to be a big negative but with the BIM Experts Directory you have a virtual business development manager to keep the enquiries flowing. With a good listing, kept up to date, the work should come to you.
Nevertheless, freelancers should always be actively engaging with potential clients to get work and building a portfolio of regular customers.
NOT KNOWING WHERE TO START
It can be daunting starting up on your own but there are good sources of information and bodies you can join that will guide you properly. We recommend you start with ipse, The Association of Independent Professionals and the Self
Employed – www.ipse.co.uk and their free freelance community website: www.freelancecorner.co.uk
We have negotiated a £50 discount with ipse for freelancers who list their services in the BIM Experts Directory. To get your discount, go to https://www.ipse.co.uk/join-online.html and enter DBE20 where it says promo code.
You can find more useful links and special offers at our business resources page.
