We are all witnessing big changes that pandemics brought to our lives; many businesses were forced to close and many employees opted for self-employment. The time has come for us all to be passionate about what we do, with a motivation to keep progressing and enthusiasm to accept new challenges.
Being a freelancer means that you start your own business and become business-savvy. You may not be familiar with finances, general admin, taxes payment and it is okay.
Keep in mind a few tips…
Forecast. To start with, make a small business plan and estimate how much you expect to earn and what expenses you may have.
Taxes. Be aware that depending on the modality of your business you will be expected to pay income tax or corporation taxes.
Business insurance. Things are not always going as planned. That is why you should consider having insurance because it will “cover your back” in unexpected situations such as an unhappy client, damaged equipment or in case if you need to take time off.
Nonetheless, at the beginning you probably won’t receive a regular paycheck and your income won’t be secure, but your liabilities like rent or car payments will still be there.
We have good news for you! Corgee gives you a complete overview of your financial situation, your income and costs, and reduces the risk of additional fees because of missed payments. Sign up here to get started.
We wish you accomplishment of your business aspirations and are happy to help you in this journey!
Written by Guest blogger: Victoria Moskevych