Why should I become a contractor?

Written by
Changeboard Team

02 Sep 2013

02 Sep 2013 • by Changeboard Team

What are the financial benefits?

  • Contractors often get paid higher rates as employers are paying for their flexibility
  • Contracting through your own limited company is the most tax efficient way possible and isn’t as hard or time consuming as you might think
  • You will often be paid on an hourly basis with high overtime rates
  • You can offset all of your business expenses against your income to further reduce your tax bill
  • You have more flexibility to negotiate pay rates and conditions.

You can be flexible

  • As a contractor you are your own boss
  • You will have the freedom to work when you want/need
  • Contractors can choose to spend more time on their hobbies such as sports or travel
  • Contracting is ideal if you have a family or young children as you can work around parenting duties and school hours.
  • Changing contract is often be easier than changing jobs
  • The company you work for is not your employer, but is instead your client.

Developing your skills

  • Working in a variety of businesses will broaden your skill-set and knowledge
  • You will have more opportunities to taste test industries
  • Your confidence will grow as you deal with a number of employers, managers and colleagues
  • Contractors often have a very extensive CV with a strong list of references.

Further career opportunities

  • Being a contractor is essentially a form of networking. It’s highly likely one contract job may lead to another
  • There is sometimes room for contract work to become permanent
  • Working for different organisations gives you the ability to advance your career without being limited by a single employer’s processes, procedures or business ethos
  • Opportunities aboard become easier
  • Contracting is a smart way to broaden your experience and diversify your skills
  • Contracting can provide constant stimulation for people who enjoy a diverse working life.

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