Friday 22 November 2013
Freelancers who are finding themselves too busy to take on all the work coming in may be ready to start up their own business, it has been suggested.
Writing for StartUps.co.uk, Stuart Derrick said that at some point, such individuals have to decide whether to "take the plunge and scale up the business beyond that of a one-man band".
He suggested the signs are "pretty obvious" that there is scope to create a company, rather than continuing to work for yourself.
"If you are regularly turning away valuable work because you are simply too busy, then the chances are that you could grow the business," Mr Derrick stated.
But he said freelancers need to decide whether they are willing to accept the extra workload that comes with a business, noting that this can be "a big change".
"With any growth plan, your costs will increase as you scale up the business with new staff, premises, equipment and marketing costs," he noted.
And this means it is important to consider whether the margins are enough to make your efforts worthwhile, Mr Derrick told the news provider.
According to latest figures from Companies House, there were 3,161,918 companies on the total register at the end of October 2013, 2,892,166 of which were active.
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Posted by Steve Williams