Are you wondering how to become a contractor here in the UK? As a common rule, it is important to put your expertise or skill to good use. Changing your career to become your own boss can be intimidating but it offers many benefits in terms of flexible working hours, increased revenue and professional autonomy.
Apart from having an effective business plan in place, there are other essentials to look at before becoming a contractor. If you’ve made the decision to hit the road into contracting, here is your simple 5-step guide to help you make the leap.
1. Valuate and understand the demand:
Before you even think about becoming a contractor, find out your core skill and valuate if there’s enough demand for your skill in the market (research). As we all know, there is always less demand for generalized skill and more demand for specialization. For example in medicine, expertise in a specific area such as cardiology or nephrology has more demand than generalized practice.
Secondly, your contract rate depends on the skills and years of experience you’ve in your domain. If there’s less demand for your core skill-set in the market or you’ve not been in the industry for very long then you might want to wait and develop yourself professionally before jumping headlong.
2. Time it right and be prepared for the change:
Once you understand the demand for your core expertise, you’ll have to be prepared to leave your current role. The nature of contracting industry means that clients will want contractors to start-off immediately or at least within two weeks. It is not necessary that you’ve to be unemployed while you search for your first contract but you should be ready to grab great opportunities as they arise – or someone else will. Hence you should time it right so that you can serve your current employer’s notice and step successfully into your end client’s task on their desired date.
3. Secure your first contract:
To secure your first contract simply sign up with recruitment agencies as they’re involved in identifying/placing contractors into specific roles. The contract industry is fueled by recruitment agencies so the easiest way to make yourself visible is by registering with several agencies. Some agencies specialize in specific job sectors, all you’ve to do is just identify and register with them to get your first contract much quicker.
You can find new jobs through a reference from your past/existing clients or from colleagues. Additionally, you can grow your professional network by uploading your CV on various job portals. You can also update your social media profiles (Linkedin, FB or Twitter) about your aspiration to become a contractor.