Why you might want to return to self-employment
So, you were self-employed for a while, but then got lured back to the bright lights of regular employment.
Perhaps it was for a great career opportunity, perhaps it was for the guaranteed monthly salary, perhaps it was because you wanted to take advantage of a maternity or shared parental leave package, perhaps you were just sick and tired of doing your own admin.
Whatever the reason, you went back and spent some time as an employee and you’ve been enjoying it. Let’s face it, it’s quite nice not having to do your own taxes every year.
But now you’re starting to get itchy feet. You’ve gone as far as you can and you’re starting to think about your next move. You may be thinking about other job opportunities, but because you’ve been self-employed before, you’re also probably thinking about returning to the world of contracting or freelancing.
So why might you want to go back?
Freedom and flexibility
Yes, it’s been nice not having to worry about getting paid regularly, but what’s not been so nice is having to ask permission for time off. Whether it’s for a holiday, because you’re ill, or because you want to attend your kid’s school assembly, you’ve been at the mercy of the office calendar and inflexible hours.
Let’s be honest, it was better when you were your own boss and could be more flexible, taking holidays when you wanted, not worrying if you had to take a sick day, and being able to spend time with your family when you wanted.
We know it’s not polite to discuss it, but the money was better when you were self-employed. It wasn’t always guaranteed, but you were making a lot more per day as a contractor, allowing you to work less and enjoy life more.
And the thing is, as you’ve been back in employment, building your experience with a snazzy job title, you can give yourself a bit of a boost when you return to contracting and charge a bit more. Your rates need to reflect your seniority, after all.
No more office politics
Office hierarchies can be a nightmare and can cause entire projects to stall as you wait for sign-off from a manager who needs sign-off from their manager who’s on holiday until next Tuesday.
These sorts of frustrations can really sour even the best jobs and leave you wistful for being your own boss and, therefore, the only person in the hierarchy. If you return to self-employment the only sign-off you ever need to think about is your client’s.
Escaping corporate jargon
If you go back to self-employment, you never need to sit in a meeting room, unable to escape, while a colleague witters on about low-hanging fruit, deep dives, boiling the ocean, key learnings and wordsmithing ever again.
To be honest, that alone makes self-employment 100% worth it.
If you decide to return to being a contractor, remember you’ll need contractor insurance. The expert team at Kingsbridge can help you with that, so call us on 01242 808740 or take a look at our website (we promise you won’t find the term ‘low-hanging fruit’ there).