Originally written by Dave Chaplin on Small Business
As the UK economy recovers from the impact of coronavirus, now might be the perfect time to take the leap and go it alone in a new freelance career.
For risk-averse businesses in this current climate, the immediate access to key skills which freelancers provide presents a more economically viable recruitment solution than a permanent hire. If you possess an in-demand skillset, you are well placed to capitalise.
Though other key concerns include deciding upon a business model, registering with HMRC and enlisting an accountant, Chaplin advises on setting a contract rate, marketing yourself and finding work.
>See also: 7 tips on how to manage freelance workers remotely
Setting your contract rate
Setting a freelance contract rate in the UK is a careful balancing act. You want to establish a competitive rate that ensures you receive a good return for your efforts without risking pricing yourself out of the market.
There are useful sites online that share survey results of the standard rates that specific skills command.
However, while these sites provide useful guidelines, they don’t account for the combination of skills or the level of experience required. Therefore, you should create a baseline rate based on your current salary,