Happy Halloween - What really scares contractors and freelancers?
It's the spookiest time of the year: ghosts and ghouls around every corner; jack o' lanterns glowing; annoying children ringing the doorbell every 10 minutes asking for sweets. But it's not zombies and witches that we're afraid of. Here are the top 5 things that give contractors nightmares this Halloween...
1. Non-paying clients
You sent the invoice straightaway. You clearly outlined your payment period. You sent a polite chaser email. And yet, somehow, still, no money has appeared in your account. The dwindling balance sends a shiver down your spine! Yes, the non-paying client is the most terrifying spectre a contractor can encounter. They look just like normal clients until the full moon comes out and the balance is due, then they show their true colours.
2. HMRC tax return deadline
Other people may think 31st October is the scariest night of the year, but all self-employed people know that it's really 31st January, the annual day of reckoning. No matter how diligently you have kept your books, filed your receipts and written down the trillion passwords you need to register for Self-Assessment, there always seems to be some gremlin in the system that messes everything up minutes before you're about to submit.
3. Quiet periods
Is there anything more terrifying than a blank calendar? A phone not ringing? An empty inbox? When you're self-employed, you have to learn to cope with busy periods and slow periods. But sometimes the quiet can seem so very deafening. Even though you know that, just like the witching hour, it won't last long.
4. Doing a bad job
You care about your work, your clients, and your reputation, so nothing makes you lose sleep like the thought of not doing a perfect job. Your standards are higher than the Tower of Terror. The idea of waking up to a bad review is more terrifying than one of those scary clown dolls.
5. Accidents at work
Work can be a dangerous place. If you're employed, you know that you will be entitled to Statutory Sick Pay and may have a potential claim against an employer if an accident happens. But if you're self-employed, what happens when there's an accident? What if you can't work? Who will pay the bills while you recover? An insurance policy that includes Occupational Personal Accident Cover can help you plan for this scary scenario. Kingsbridge's cover offers £500 a week for up to a year following an accident, no matter who is to blame.
We can't promise to exorcise all business demons, but with our complete protection insurance for contractors, we'll certainly help you sleep more soundly. Just think of it as your silver bullet. Who you gonna call? Kingsbridge (01242 808740).