What are the Benefits of Being Self-Employed?
I like being self-employed! The thing I like the most is not being tied to a particular firm or office. The freedom of movement is what first attracted me to being a locum. Over the years I’ve worked with well over 100 different Firms, not to mention the Firms I’ve been back to on a repeat basis. The first few days can be a bit stressful while you’re familiarising yourself with a new case management system, new colleagues, workplace and of course clients, but that’s part of the job, and I enjoy the challenge.
I’ve been asked a few times by a couple of the Agencies that I’ve used to set up and trade through a limited company, but this isn’t necessary, and I decided against it because I didn’t want the headache and the expense of compliance with company law requirements. There might be some tax advantages for doing this, as I know a few locums who have gone down this route. You might also need to register for VAT if your annual turnover is going to exceed the threshold relevant to your tax year. If in doubt, speak to an accountant!
The other thing I enjoy is seeing different parts of the country. When my kids were small, I preferred assignments within commuting distance, but this isn’t always possible, so it helps if you’re prepared to consider assignments which require you to stay away from home for all or part of the week. I’m based in North Essex and over the years, have worked in most parts of East Anglia, Kent, Sussex, the Midlands, and outer London plus a few even further afield. As a result of my work, I’ve been to places I wouldn’t normally have visited. I’ve seen King John’s tomb in Worcester cathedral, had one of the best ever curries in Walsall visited the medieval underground streets in Norwich, and stayed in some equally interesting hotels and guest houses, including one that was haunted!
When I was younger, I tended to arrange my social life around my work commitments but now I’m older and my kids are grown up, I try and do it the other way around. These days I tend to go for assignments that last 2-5 months, 4 or 5 days a week, followed by a holiday, and it works well for me. Last year I went to Lisbon for a month, in addition to other shorter breaks. I wouldn’t have been able to do that if I had been employed.