free inventory program for independent contractor

Also consider what might happen if the company you’re contracting for loses work – will that mean you’ll lose your contract? Would you be able to easily find other contracting work? Would you be able to continue paying down any debt you owe on your equipment?Īs a contractor, you don’t get paid sick leave. It’s a good idea to budget for at least five days a year when you’re too sick to work - and won’t get paid. Make sure you include this in your budget and when working out hourly rates. Consider the costsĭepending on what field you work in, there could be significant set-up costs in going contracting.įor example, if you’re a cleaner you might need to spend a significant amount on equipment and products, if you’re a courier driver or truck driver, you might need to buy a vehicle.īefore spending large sums of money, think about how long it will take you to pay off any loans you might need to take out.

Contracting suits people who can adapt quickly and easily to new situations. It can take time to get used to new work cultures and ways of working. You’ll need to handle the stress that may come with any gaps between contracts - short and long, expected and unexpected. Will it suit my personality?Ĭontracts can be as short as a few weeks or they can carry on for some time, sometimes for years. Others do it because they find themselves out of permanent salaried work, eg after being made redundant. They want to use their skills, to earn more than they could in a salaried job. Some people choose to become contractors. Ask yourself the following questions before you decide: Why become a contractor? The differences, like gaps between contracts that you can’t control, may mean that contracting is not for you. But there are differences, as a contractor you are in business for yourself.

There may be similarities with being in a salaried job, eg you may carry out the same tasks that a salaried person does. choose how - and sometimes where - to do your work.

Free inventory program for independent contractor