Five tips for first-time freelancers

There are over 4.7m self-employed workers in the UK and moving from full time employment to freelancing is becoming an increasingly attractive option for those who are looking for a career change, particularly as October redundancies loom. The benefits of becoming a freelancer can be hugely rewarding – increased flexibility, the autonomy of ‘being your own boss’ and the freedom to work on only the projects you want to – but it’s important to fully understand the steps required to switch to freelance. In this simple guide, Markel Direct outlines the key considerations when making the move. **Develop your business plan for the short and medium term ** The first step of making the move into freelance is developing a business plan for the short term (12 months) as well as medium term (3 years). It can be difficult to know where to start, but some basic considerations include: What services will you offer? What will be your differentiator from the competition/unique selling point (USP)? What will you charge? How will you market to potential clients? (More on this below) How much do you expect to turnover? How much will you pay yourself? **You can find more help on writing a business plan on GOV.UK. ** Many freelancers choose to start their business as a ‘side hustle’, doing it in their spare time whilst continuing to work full-time for their employer. Whilst it’s hard work juggling two jobs, there are many benefits to this, as it removes some of the risks of making the leap overnight. If you don’t have the opportunity to start small and build up, don’t worry – provided you’ve got the right skills and attitude, there’s no reason you can’t start work as a freelancer straight after leaving a job (e.g. due to redundancy). **Plan your marketing to potential clients ** Developing a pipeline of constant work is essential when freelancing, not just for staying busy, but also for managing cashflow. Raising awareness of your business through social media can be a cost effective way of reaching a wide audience looking for your services; at the centre of your strategy should be providing potential clients with useful content that illustrates your expertise in the space. This could be useful guides, hints and tips articles and even free consultations that act as a hook to larger projects. Search engine marketing (SEO and PPC) is also a great way to attract new clients, so investing time and money in a professional, easy-to-use and optimised website will pay dividends in the long run. **Give yourself a financial buffer (where possible) ** One of the main pain points for freelancers is cash flow. Clients don’t always pay on time (and could be experiencing cash flow issues themselves), so if you have the funds available, it’s useful to have a pot of money to help you through months where you don’t get paid on time. You should also think about seasonality – for example, workload can slow down over the […]

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ClearTax’s Archit Gupta’s easy guide to how freelancers can file taxes

Freelancing — the word rings in the thought of working at your convenience, setting up shop anywhere, and direct exposure to clients. Freelancers get paid based on their contract and may also incur expenses in carrying out the assignment. Keeping track of payments from multiple assignments and hence paying taxes can sound cumbersome, so we got tips ClearTax Founder and CEO Archit Gupta to simplify the process, and tell us how freelancers can easily file taxes. Keeping track of income If you are a freelancer, you may receive payments on an assignment basis or every quarter or month, based on your contract. The receipts constitute income from professional services. You will need to aggregate their invoices to find the gross income from freelancing. As a freelancer you can claim deductions for expenses from the gross receipts, thereafter. Professional receipts above Rs 30,000 per financial year may face TDS deduction. This is deducted at 10% tax at source (from your client) whenever the payment is made to you. The deducted TDS is deposited on behalf of the freelancer by the payer. You can claim this back when you file tax returns. The TDS rate is 7.5% for professional fee transactions from 14 May 2020 until 31 March 2021. The accrual and cash methods As a freelancer, you should maintain books of accounts containing a record of your income and expenditure. Or you could get ta professional account to choose between two methods of accounting — accrual method and the cash method. In the accrual method, the income and expense get recorded once they become due. Accrual accounting is irrespective of the actual receipt or payment. However, in the cash method, the accounting is based on actual receipts and payments. Paying your taxes From a tax perspective, the method of accounting, once chosen, should be consistent for each year and for the entire freelancing income. It is great to keep a tab on your income from the word go. In the accrual method, your tax liability arises in the year in which you raise the invoice or book the expense. In the cash method, tax liability arises in the year in which you receive the money. Likewise, under the cash method, you can claim a tax deduction for actual payments in the financial year. A few examples of expenses a freelancer can claim tax credit for: Rent for the premises (work area) Travelling and conveyance charges Costs incurred to carry out repairs to your premises, computer, printer or vehicle Depreciation on any assets such as a computer, chairs, desk, printer or vehicle Insurance costs, meals and other hospitality costs Business promotion costs. Any amount incurred to render freelancing services If a freelancer’s cost is for both personal use and professional use, a deduction is available for the portion attributable to the professional use. An example is the cost of running and maintenance on a vehicle used for personal and professional purposes. You cannot claim a deduction for personal expenses such as […]

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New partnership set to push on-demand vehicle routing

MIT-born startup, Routable AI, has partnered with freelance and crowdsourcing online marketplace, Freelancer.com. Routable AI, which offers rider and driver apps in addition to fleet management for high capacity shared rides, will, as part of the venture, help facilitate on-demand vehicle routing for Freelancer following the launch of its Global Fleet, a service that deploys professional freelance talent worldwide and on-demand. The objective, in essence, is to efficiently route workforces between delivery, freight, or field services jobs in real-time and in ways that minimise downtime and reduce costs. Australian-owned Freelancer.com is headed up by Matt Barrie while Routable AI is also spearheaded by Australian James Cox, formerly at Uber Australia and a key part of the uberx launch in Sydney. The partnership is betting on the combination of a marketplace of people found by Freelancer and the algorithms to help optimise the deployment of those people provided by Routable AI. On potentially new projects that require massive scale — for instance 5G rollout — Routable AI moves the people sourced by Freelancer conveniently and efficiently. Routable AI has offered its routing API product to support the back-end of the Freelancer Global Fleet. With Freelancer Global Fleet, enterprises building and operating global fleets of professional field services talent will be able to deliver expertise anywhere in the world on-demand. The Freelancer and Routable AI partnership more efficiently, in theory, routes workforces between delivery, freight, or field services jobs in real-time and in ways that minimise downtime and reduce costs. Both companies, in sum, are banking on the partnership making it easier for enterprises to scale their global workforces quickly and dynamically by tapping into 46+ million freelancers with expertise in over 1,600 skills through the Freelancer marketplace workforce. Freelancer.com Chief Executive Matt Barrie said fleet operators and others managing large field services fleets are always looking to decrease operational costs and increase efficiency. “Whether it’s field services for hardware maintenance, on-demand photography, food delivery, or courier services — businesses can deploy installers, technicians, drivers, and other professionals fast and inexpensively anywhere in the world with Freelancer Global Fleet,” he said in a statement. “We are thrilled to partner with Routable AI to power Freelancer Global Fleet. Routable AI’s product is the ideal solution to provide a more flexible fleet in real-time, enabling enterprises to build a global workforce through a marketplace model and scale their business,” said Barrie. The first customer of Freelancer Global Fleet was a US computer company that deployed a fleet of field technicians on scooters for computer and printer repairs in Indonesia. This company is in the process of rolling out pilots in other countries as well. Routable AI CEO James Cox said the company is excited to power Freelancer Global Fleet. “Our routing technology gives Freelancer Global Fleet customers the ability to efficiently deploy and route professional talent to real-world tasks through the Freelancer marketplace,” he said. Featured Article Unveiled at MEGATRANS2018 in Melbourne, Isuzu’s most recent addition to its ‘ready-to-work’ range is the Servicepack […]

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Being a solopreneur: 8 digital jobs you can do from home

Becoming a digital solopreneur can sort your life if you choose a career field that really interests you. You can work how you like while sitting at home, and even be your own boss! In a world where the internet is now used by more than 4.5 billion individuals or over half the global population, the online medium is undoubtedly bursting with new possibilities. Combine access to good speed Internet with adequate technical knowhow and a knack for business innovation, and you have the recipe for starting a solo digital business. With the ever-restless millennial workforce always on the lookout for avenues that break the status quo, digital solopreneurs or people running solo businesses online are the next big thing! The digital revolution sweeping the world has given us unprecedented access to people, ideas as well as marketplace. On one hand, the digital medium gives us access to a huge market or consumers, on the other hand it also makes it easier to find work associates and sell your skills. While businesses are using the digital medium to thrive like never before, the online world has also engendered a new breed of digital solopreneurs. Interestingly, while the word Solopreneur is not new, it has gained currency in recent years particularly with respect to the new breed of solo entrepreneurs launching or running their businesses purely through the digital medium. How does a solopreneur business work? An interior designer who works alone, a woman who makes and sells elegant pottery products, and a caterer who arranges food for parties or a solo party planner are all examples of solopreneurs. These business owners offer a unique product or service, tie up with real or digital marketplaces, hire services of freelances, and run their businesses efficiently. Solopreneurs are essentially entrepreneurs who work alone. While Solopreneurs do not hire any workforce, they partner with several people or organizations to be able to deliver their service. 8 career options as digital solopreneurs 1. Youtubers Do you know that the world’s most subscribed individual YouTuber is Swedish comedian and gamer PewDiePie who has more than 100 million subscribers. His YouTube videos primarily comprise of comedy shows and gaming videos and are relished by millions of people across the world. YouTubers are one of the newest breeds of solopreneurs. They attract and engage a large audience through their talent or informative videos. Motivational videos, health tips, cookery, and satirical and comic videos are some of the most commonly followed YouTube channels. Here’s how you can become a YouTuber too. 2. Creative designing If you have a knack for producing attractive graphical designs with a hang of illustration-based software such as Photoshop and Illustrator, graphic designing is a business proposition that is high in demand. Graphic designers are critical in turning any content into a more attractive and captivating one through the use of visual concepts and production designs. They are not just crucial to designing magazines and brochures but also enabling creation of more engaging reports […]

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How to Simplify Your Freelance Work

Opinions expressed by Entrepreneur contributors are their own. This article was written by Kay VanAntwerpen, a member of the Entrepreneur NEXT powered by Assemble content team. Entrepreneur NEXT is our Expert solutions division leading the future of work and skills-based economy. If you’re struggling to find, vet, and hire the right Experts for your business, Entrepreneur NEXT is a platform to help you hire the experts you need, exactly when you need them. From business to marketing, sales, design, finance, and technology, we have the top 3 percent of Experts ready to work for you. The future is freelance. This mode of employment isn’t just a trend or quirky alternative to the contemporary lifestyle — it’s quickly becoming part of the mainstream. With each new generation, freelancing has become more popular. When surveyed , 29 percent of Baby Boomers said they were likely to freelance, followed by 31 percent of Gen X, 40 percent of millennials, and 53 percent of Gen Z. As of 2019, roughly 57 million Americans worked as freelancers. These not-so-unconventional workers now make up almost five percent of the U.S. GDP. That’s more than either the construction or transportation sectors—statistically closer to the information sector. Businesses looking for skilled professionals without the need to hire them as full-time employees benefit from hiring freelancers.As such, most freelancers work in skilled professions — programming, business consulting, marketing, information technology, etc. There are a number of benefits for these employees as well, including: Better pay: The average freelancer is better paid than 70 percent of regularly employed workers, making a median rate of $28 an hour. Location independence: Freelancers work on their terms, be that from home, a coffee shop, or on the road. Freedom to choose clients: Freelancers are not beholden to the corporate power structure, inconsiderate management, or controlling bosses. They choose their own clients. If a particular relationship is not working, a freelance expert can easily part ways. Ability to prioritize personal needs: Forty-six percent of freelancers say they prefer their work pattern because they are unable to work for a traditional employer due to personal conditions such as illness, injury or more. This isn’t all to say the freelance life is free of difficulty. Setting your own schedule, maintaining that schedule, and keeping deadlines are all easier said than done. If you’re used to the guardrails of a 9-5 job, the open seas of the freelance economy can take practice to navigate. Below, we’ve covered some of the best ways to make your freelance life easier. Creating your office. Location independence can be thrilling. You can work in whatever clothing you want, be it a suit and tie, pajamas, or plain old tighty-whities. Choosing to make your kitchen table, a coffee shop, or the lobby of a hotel your office is a level of freedom you may not have expected. But you’ll quickly learn that some locations are more conducive to productivity than others, and having a proper workstation can make all the difference […]

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Hire The Best Writers For Your Website

International Business Times offers links to items to help our readers find interesting products. When you buy through links on our site, we may earn an affiliate commission. Here are our T&C . Content writers are dime a dozen. Look for the best ones using these tips. In today’s digital age, where companies constantly compete to people’s attention and turn it into profit, running a business requires a lot of writing. And we mean, A LOT. There’s your website, and then your blog, your social media posts, your newsletters, your advertisements, your guest posts, and what have you. Basically, the list goes on, and if you think that’s all there is to it, there’s also SEO, keyword research, editing, publishing, and of course, distribution. All of that requires immense amount of work and it’s highly unlikely that you’ll use your hours to do all of that when you’re already handling other aspects of your business. In fact, there are a lot of business owners that don’t even have the skill to do it. Writers can make or break your content marketing. So make sure you hire good ones. So what do you do? Well, here is where content writers come in. Freelancing is on the rise, and there are more freelance writers than ever before. The problem, however, is that most businesses (especially new ones) lack the know-how when it comes to hiring quality freelance writers. Chances are, you are one yourself. As such, we’ve created this list of tips that hopefully will help you land freelancers that will provide you with the top-notch copy that you deserve. Read on: 1. When it comes to initial filtering, look for freelancers that have a bachelor’s degree in Journalism or English, as these are usually a good indicator of a person’s writing skills. For stronger writing skills, try to look for candidates with backgrounds in education, business consulting, or any field of law. 2. However, a degree doesn’t necessarily mean relevant experience, nor does a warm and fuzzy interview makes for a good employee. Remember that you need a writer, so review actual writing samples from your candidates, and take note of clarity, grammar, and a good writing voice that can adapt and change based on the client’s needs. HireWriters offers writing services for your company at a fraction of the cost that other companies usually pay, all without sacrificing quality. Photo: Hirewriters.com 3. Consider your budget. While the general rule is that what you pay is what you get, there are still writers that work well even while on a budget. One such example is the freelancers you can find on HireWriters.com. Featuring over 30,000 native English writers, HireWriters.com prides itself in providing you with quality freelancers for a low and reasonable price . Any topic is welcome as well, including content writing, rewrites, transcription services, e-book creation, data entry, or even poetry and lyric writing. Best of all, revisions are free, and HireWriters.com promises quick turnaround on writing orders. […]

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Three tools that help medical device SMBs work remotely

Ramya Sriram, digital content manager of freelance platform for scientists Kolabtree, explores three tools that are helping medical device SMBs to work remotely. Following positive experience during lockdown, a Hubble HQ survey found that the number of UK employees who want to continue working remotely for at least one day a week has risen to 86%. However, some small and medium-sized businesses (SMBs) that are new to remote working have found it challenging, particularly in industries such as medical device manufacturing, because companies must adapt to new arrangements while juggling the regulatory approval process. While the COVID-19 pandemic has created constraints for the medical device industry, such as limiting on-site inspections, the regulatory process itself hasn’t stopped. In June 2020, the US Food and Drug Administration (FDA) announced that during the pandemic it had continued to meet its target of reviewing at least 90% of brand, generic and biosimilar drug applications. This means that manufacturers must find new ways to navigate the approval process effectively, even while working away from the office or laboratory. Setting up a robust quality management system (QMS) that covers all aspects of design, manufacturing and risk management is the first key step to an efficient remote working setup. The complexity of the QMS will vary with device classification, for instance companies producing high-risk devices (Class III) will require a different strategy to low-risk, non-sterile surgical instruments (Class I). Here are some of the several electronic quality management systems (eQMS) available that medical device SMBs can access wherever they work. Greenlight Guru When seeking regulatory approval, one of the biggest challenges for manufacturers is streamlining quality processes to reduce the time it takes to get the product to market. Traditionally, companies rely on paper-based systems to track quality —users often find these difficult to organise and struggle to access specific data when required. Founded in 2013, Greenlight Guru has been marketed as the first digital eQMS, designed specifically to automate and streamline the QMS process and prevent these issues. Greenlight Guru is a cloud-based platform and is the only quality management software designed specifically for medical devices. Manufacturers can use it in various ways if they’re working away from the office or are not in regular contact with QMS experts. For instance, you can upload your risk management inputs and the platform will provide a compliant design system. By simplifying FDA and ISO compliance, the software makes it easier to manage quality processes like audits and document control, enabling you to get your medical device on the market even while working remotely. JIRA In 2018, Greenlight Guru integrated its platform with project tracking software JIRA to make it easier for manufacturers to manage product development and post-market quality. JIRA enables users to create roadmaps that set out all projects in progress, so that manufacturers can effectively plan and track all the relevant aspects of the regulatory process and monitor work against deadlines. This may include completing a table of contents or compiling your device’s design […]

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Common Mistakes Freelancers Make

A career path that is become increasingly popular in many industries is freelance. Being a freelancer comes with many benefits that might suit you personally, but there are some easy mistakes you can make along the way if you are new to it all. Here are some common mistakes freelancers make. Forgetting About Taxes When you become a freelancer, you become responsible for paying your own taxes. Because of this, you must hold yourself accountable and either pay your taxes throughout the year or make sure you have enough at the end of the year. Not Thinking About Retirement The next common mistake freelancers make is not thinking about retirement. It’s important to think about your retirement, even if you are a freelancer. Those who work under a company typically have a retirement plan that’s a part of your benefits. For freelancers, you can plan for your retirement future with a solo 401k . Underestimating Your Value One of the hardest aspects of being a freelancer is deciding on your pay. It can always be awkward whenever you are talking to someone about money, but it’s crucial that you don’t underestimate your value. It can be easy for many to take advantage of freelancer workers, so don’t let this be you. Having Poor Time Management Being a freelancer is appealing to many because of how independent you can be. However, if you are someone who cannot manage their time wisely, being a freelancer will not last long. Make sure you are up for the challenge and can keep track of all the various projects you might be working on to make deadlines. Not Having A Dedicated Workspace Freelancers are no strangers to working from home, and since you might not have access to your favorite coffee shop, setting up a dedicated workspace at home is vital. Sometimes it can be hard to balance your work and regular life, but having a dedicated space makes it a bit easier. Plus, you are going to want to have a space where you can concentrate and avoid distractions to the best of your ability since you might not be going into an office.

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Popular Remote Career Ideas for the Pandemic Period

We can agree that 2020 is a year of change because of the COVID-19 pandemic. Staying at home became mandatory, and many plans were delayed. The impact of the pandemic became more obvious as time went by. With the economy slowing down, many lost their jobs or needed extra income. However, there is a positive impact from the misfortune. Thanks to the internet, online jobs became more available to people. From freelancing to starting your own business, the choices are plenty. This article provides several remote career ideas to help you sort which one works best for you during the pandemic. (photo provided) You’ll Need a Website Before taking a remote career, it’s important to focus on your online presence by having a website. Creating a website can add value to your branding, help expand your network, provide opportunities, and lure in potential customers. Your website can be adjusted according to your purposes, whether as a professional portfolio, blog, or an e-commerce site. Choose what your objectives will be and envision how it’s going to be in both short and long terms. Nowadays, you can look into affordable website builders and web hosting providers. We recommend looking into HOSTINGER and its hosting plans that start under $3 per month. You can have your website up and running with a domain name and the tools to run your website seamlessly. Meanwhile, if you can also secure your website for free with free SSL certificate providers like Cloudflare . Now that you’re ready to enter the gig economy, let’s run down some remote career ideas that might be the right fit for you. What Job is Right for You Choosing online jobs can be challenging, especially with so many platforms being crowded with new workers due to the pandemic. The best way to pick is to limit your options and ask yourself these questions: How much time will you dedicate to the remote work? Which skill or experience do you want to take on for the job? What resources are available for the work? How much can you invest? What is your profit expectation? When you’re confident in your answers, you will have a more seamless process of finding and doing the remote work. To continue, below are the list of career ideas to help you decide which one is best for you. (photo provided) Start Blogging A blog – or weblog – is an online journal where people write about their preferred topics. There are many types of blogs that serve different purposes. Blogging has changed from being a platform of online diary entries to a monetized one, and always with benefits. Starting a blog begins by choosing the niche topic, then settling on your web hosting and domain name. A blog is often made unique and SEO-friendly to promote your content and stand out from others. When your blog is ready, you can begin promoting and gaining an audience to grow it further. There are some options to start […]

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Why Freelancing is a Good Idea for Everyone

The last decade has seen an unprecedented change in the way business is conducted. Long gone is the time when companies were trying to promote a set office culture, which seemed productive but also came with its fair share of issues. Nowadays, though, there is a significant tilt towards freelancing. An option that has proved to be beneficial for both individuals as well as businesses. In a nutshell, from the viewpoint of a company, hiring a freelancer means significant cost-cutting. Not requiring a person to check into a physical workspace means saving time and added expenses such as electricity and transport. Moreover, with the start-up culture progressing rapidly, many businesses are now working in the cloud, avoiding physical offices altogether. Freelancing has several benefits for employees as well, who are known to be more productive when working from home. Passion Project Being a freelancer does not automatically mean you have to give up on your nine to five job. If your freelance work takes up the whole day, you can devote all the time to it. If it does not, you can continue working elsewhere and do freelancing in the evenings or on the weekends. Moreover, the concept lets people indulge in their passion projects which might not be possible through a regular job. There are several entrepreneurs these days who are earning a lot of money running the top most fashion blogs or doing graphic designing, all the while still enrolled in corporate jobs that bring in a substantial amount of their yearly income. Easy Setup The best part about freelancing is that you do not need much to set it up. Creativity and the will to be different is something you will require to stand out, but besides a good computer, maybe a camera, and a stable internet connection, there is next to nothing you need to invest. This also means that you can quickly start a freelancing job like content writing from home without wasting any time planning for it. Backup Plan Ever since the commencement of the new century, most people have come to realise that we live in a somewhat volatile world. Things never go as intended, especially in business, and one needs to have a backup plan in place, particularly when layoffs can happen unannounced in any industry. It is not possible for everyone to hold two jobs at the same time, and therefore, doing occasional freelance work can prove to be just the cushion one needs in case of an emergency. Moreover, a side-job allows you to save more money which can come in handy during desperate times. Be Your Own Boss One of the most significant advantages of freelance work is that you are your own boss. As a result of this, you can take up as many assignments as you feel comfortable doing, can set up your individual fees based on your talent, and even go off on holiday […]

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