So here goes...I've quit my job.
-
I've quit my job! I'm going to start by contracting and try and build my own company. I've got 1 month to finalise the details and find my first project (although I do have a few leads already). Wish me luck. [Going freelance blog post[^].]
Simon
-
I did the same thing about 4 years ago - finding my first contract was pretty rough as I went freelance about the same time that Northern Rock went to the wall so the contract I did have lined up with a major bank got pulled before it even started! I posted on here asking for advice from fellow CP members and was pointed at a few articles written by Digital Man[^]. Definitely worth a look; some sage advice in there for new starters. I assume you'll be setting up your own Ltd company to trade under (pretty standard these days). Have a shop around to find the best price; I got mine for about £25 though either contractoruk.com or contractoralliance.co.uk (can't remember which) but some places will charge up to a few hundred quid. Ask your mates who they use as their accountant too - always better to work off recommendations when it's someone who deals with your money. Best of British!! :)
Sarchasm : The gulf between the author of sarcastic wit and the person who doesn't get it.
Yeah, I've read Digital Man's articles. They've certainly helped with a few pointers so far. I'm probably just going to stick as a sole trader to begin with. There doesn't seem to be any significant advantage to going Ltd right away, but I suspect that I'll end up doing that eventually. You started 4 years ago...I assume you're still going strong now?
Simon [Need a software dev?]
-
Yeah, I've read Digital Man's articles. They've certainly helped with a few pointers so far. I'm probably just going to stick as a sole trader to begin with. There doesn't seem to be any significant advantage to going Ltd right away, but I suspect that I'll end up doing that eventually. You started 4 years ago...I assume you're still going strong now?
Simon [Need a software dev?]
I found that most recruitment agencies will only deal with limited companies as it apparently shields them from some legal and financial issue (though I'm not clear exactly what). I'd have a call round a few places and ask them what their procedure is. I'm probably luckier than most; I've managed to find myself on a few long term contracts (the current one is over 2 years thanks to a few extensions) and I've suffered no downtime since November 2007 so I'm still going very strong. For me personally, it's the best career move I ever made (YMMV!!)
Sarchasm : The gulf between the author of sarcastic wit and the person who doesn't get it.
-
Good luck, You've picked a not idea time, what with cuts etc. Just saying :-\
Software Kinetics - The home of good software
Yeah, I know it's a risk, but It's a carefully considered one, I've spoken to a lot of people in making this decision. (My theory[^])
Simon [Need a software dev?]
-
I found that most recruitment agencies will only deal with limited companies as it apparently shields them from some legal and financial issue (though I'm not clear exactly what). I'd have a call round a few places and ask them what their procedure is. I'm probably luckier than most; I've managed to find myself on a few long term contracts (the current one is over 2 years thanks to a few extensions) and I've suffered no downtime since November 2007 so I'm still going very strong. For me personally, it's the best career move I ever made (YMMV!!)
Sarchasm : The gulf between the author of sarcastic wit and the person who doesn't get it.
moon_stick wrote:
recruitment agencies will only deal with limited companie
Really, I've not come across that yet. But I have only dealt with 2 so far, so perhaps they are an oddity. (Or just haven't brought it up yet. Although I've definitely mentioned to one my plans to not go Ltd. so you'd think they'd have said something then.)
moon_stick wrote:
the best career move I ever made
That's what everyone says. I'm suspecting some kind selection bias going on there.
Simon [Need a software dev?]
-
All the best Simon - If nothing works - then do not worry. 054m4 will give you shelter in caves and work - you might have to get use to AK-47.
Umm... Thanks... I think.
Simon [Need a software dev?]
-
moon_stick wrote:
recruitment agencies will only deal with limited companie
Really, I've not come across that yet. But I have only dealt with 2 so far, so perhaps they are an oddity. (Or just haven't brought it up yet. Although I've definitely mentioned to one my plans to not go Ltd. so you'd think they'd have said something then.)
moon_stick wrote:
the best career move I ever made
That's what everyone says. I'm suspecting some kind selection bias going on there.
Simon [Need a software dev?]
Simon P Stevens wrote:
moon_stick wrote:
the best career move I ever made
That's what everyone says. I'm suspecting some kind selection bias going on there.
A little bit of maths helps here - assuming you have 4 weeks downtime a year, best case is: Rate £30ph Hours/week 40 Weeks/year 48 Turnover £57600 Salary £5715 Net Profit £51885 Corporation Tax @21% £10895.85 Available dividend £40989.15 Personal income £46704.15 Higher rate tax allowance £37000 Higher rate tax @23.5% £2280.48 Net take home pay £44423.67
Sarchasm : The gulf between the author of sarcastic wit and the person who doesn't get it.
-
Thanks.
Joan Murt wrote:
Just curious: why have you quit?
I've always wanted to have my own company. Ultimately I want to build a product/app that I can sell, so I suppose contracting is just a route to get the freedom to get to that final goal.
Simon [Need a software dev?]
Simon P Stevens wrote:
Ultimately I want to build a product/app that I can sell, so I suppose contracting is just a route to get the freedom to get to that final goal.
Careful what you wish for. My experience has been that you work longer hours and more is expected of you, and you don't learn because you're expected to be an expert and so the company doesn't develop you. As far as the business side goes, it's a pain in the arse. Tax bills, cost claims, receipts, blah blah wuff wuff. If I were you I would have concentrated on using my free time to build up the creative side so that when you do have an idea you have the wherewithal to make it work. You're not gonna build up THAT much money contracting. You're better off concentrating on the idea and the implementation, and then you'll find someone who's willing to invest. Cart before the horse, dude.
Smokie, this is not 'Nam. This is bowling. There are rules. www.geticeberg.com
-
Simon P Stevens wrote:
moon_stick wrote:
the best career move I ever made
That's what everyone says. I'm suspecting some kind selection bias going on there.
A little bit of maths helps here - assuming you have 4 weeks downtime a year, best case is: Rate £30ph Hours/week 40 Weeks/year 48 Turnover £57600 Salary £5715 Net Profit £51885 Corporation Tax @21% £10895.85 Available dividend £40989.15 Personal income £46704.15 Higher rate tax allowance £37000 Higher rate tax @23.5% £2280.48 Net take home pay £44423.67
Sarchasm : The gulf between the author of sarcastic wit and the person who doesn't get it.
What I meant was I'm only hearing contractors say good things, but that's probably because those that fail go back to full time employment so I don't ask them.
moon_stick wrote:
4 weeks downtime a year...Rate £30ph
Woah. I've been working on the assumption of 12 weeks downtime (not holidays, just being pessimistic about gaps between work) and £37.50ph (Perhaps it's location dependant. Midlands based here). Works out at £60k turnover though, so almost the same figures in the end. Either way it gives me a net take home that's higher than my current gross income.
Simon [Need a software dev?]
-
Simon P Stevens wrote:
Ultimately I want to build a product/app that I can sell, so I suppose contracting is just a route to get the freedom to get to that final goal.
Careful what you wish for. My experience has been that you work longer hours and more is expected of you, and you don't learn because you're expected to be an expert and so the company doesn't develop you. As far as the business side goes, it's a pain in the arse. Tax bills, cost claims, receipts, blah blah wuff wuff. If I were you I would have concentrated on using my free time to build up the creative side so that when you do have an idea you have the wherewithal to make it work. You're not gonna build up THAT much money contracting. You're better off concentrating on the idea and the implementation, and then you'll find someone who's willing to invest. Cart before the horse, dude.
Smokie, this is not 'Nam. This is bowling. There are rules. www.geticeberg.com
I know it's not all greener grass, but the journey is part of the fun. It's not all about the end goal, I want to try running my own company and this is my opportunity.
Simon [Need a software dev?]
-
I've quit my job! I'm going to start by contracting and try and build my own company. I've got 1 month to finalise the details and find my first project (although I do have a few leads already). Wish me luck. [Going freelance blog post[^].]
Simon
Good luck! And fix those rounded corner thingies on your web site, they look a bit off in firefox.
Wout
-
Or if he wants to live dangerously a cat walker.
Join the cool kids - Come fold with us[^]
"Fetch!"
-
Good luck! And fix those rounded corner thingies on your web site, they look a bit off in firefox.
Wout
wout de zeeuw wrote:
And fix those rounded corner thingies on your web site, they look a bit off in firefox
Cheers. What version? Can you do a screenshot? Looks OK in FF3.6 on Windows and Ubuntu for me.
Simon [Need a software dev?]
-
wout de zeeuw wrote:
And fix those rounded corner thingies on your web site, they look a bit off in firefox
Cheers. What version? Can you do a screenshot? Looks OK in FF3.6 on Windows and Ubuntu for me.
Simon [Need a software dev?]
FF 3.6.16: http://www.woutware.com/firefox.jpg[^]. I highlighted the offy bits.
Wout
-
I've quit my job! I'm going to start by contracting and try and build my own company. I've got 1 month to finalise the details and find my first project (although I do have a few leads already). Wish me luck. [Going freelance blog post[^].]
Simon
Hi, :thumbsup: Good luck with building your company :)
With friendly greetings,:) Eric Goedhart
-
FF 3.6.16: http://www.woutware.com/firefox.jpg[^]. I highlighted the offy bits.
Wout
Ah-ha. Dam widescreen monitors. Looks like I need to increase the size of the corner image to cater for even larger screens. Thanks for the tip off.
Simon [Need a software dev?]
-
Hi, :thumbsup: Good luck with building your company :)
With friendly greetings,:) Eric Goedhart
Thanks.
Simon [Need a software dev?]
-
Ah-ha. Dam widescreen monitors. Looks like I need to increase the size of the corner image to cater for even larger screens. Thanks for the tip off.
Simon [Need a software dev?]
My laptop has 1920 x 1200 pixels. :-O
Wout
-
Good luck! :rose: Just curious: why have you quit? - Hungry for being your own boss? - Really bad job? - X?
[www.tamelectromecanica.com] Robots, CNC and PLC machines for grinding and polishing.
-
Of course! :rolleyes:
[www.tamelectromecanica.com] Robots, CNC and PLC machines for grinding and polishing.
