Deciding to become an independent contractor is a massive decision. And not one to be taken lightly.
Whatever the reason: to enjoy a higher income or to have the ability to have a more varied and flexible work portfolio, many professionals, even in the current economic climate are turning to independent contracting as a genuine alternative to the 9 to 5.
Generally independent contractors can command higher fees than their salaried counterparts but, as with most things in life, there are two sides to this particular coin: As a member of the “flexible workforce” your contract will generally be for a fixed period and there is no guarantee of work beyond that fixed period. Nor do independent contractors enjoy benefits such as paid holidays and sick leave which many employees are used to.
That’s the trade-off in becoming a contractor and as you progress through this guide you will see that, in most circumstances, the benefits are far greater than the downsides.