How to minimise non-billable time

“Time is money” isn’t just an adage when running a small business, it’s a way of life. When your business model is to sell your time and expertise, it’s important to monetise every moment of every working day.

There are plenty of hacks to help freelancers and contractors get more and more efficient with reducing the cost of non-billable time. These tend to focus on outsourcing your unproductive time and automating repetitive tasks, but you also need to pay special attention to the time and effort you spend on winning new business. (more…)

Essentials you need to know before becoming a contractor

Making the decision to go it alone and leave the relative security of life as a PAYE employee is a big one, but it can pay dividends (quite literally) when it comes to your potential earning power.

If you’re thinking about whether becoming a contractor could be the right career move for you, we have put together this guide to cover the key things you need to know before you make the move.

If you want to become a contractor, the good news is that there are plenty of different roles available, with everything from IT specialists and engineers, to management consultants and even locum doctors engaged on this basis.

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IT Contractors – how to avoid late paying clients

There has been much talk recently about freelancers and contractors struggling to get their invoices paid by the agencies or end clients.

With the credit crunch hitting cash flows hard, the bigger companies are often guilty of extending credit terms without your say so. If, firstly, the client delays in paying the agency and then they delay in paying you, it’s added weeks on to money that would be better off in your bank.

So what can be done about it?
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How a contractor umbrella company works

An umbrella company acts as your employer, for tax purposes, when you undertake a contract with an employment agency or a client. It is an alternative to you setting up your own Limited Company and, if your contract is outside of IR35, it is usually the most cost effective way for you to operate.
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