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Freelancers - how much did it cost to get yourself established?

8 replies

WildhoodChunder · 04/02/2011 10:33

I'm considering going freelance after arrival of DC2, but only a couple of days a week. A book I read on setting up costs is putting accountancy fees at £2k, which seems steep, especially when there's other costs like registration fees etc to pay... The book is sponsored by an accountancy firm so I'm a bit Hmm. I'd be really interested to know how much it costs to get set up, and what costs are essential. I'd appreciate some advice from seasoned freelancers!

OP posts:
Talkinpeace · 04/02/2011 13:11

Sounds utter bilge to me.
Have a look at my ebay me page - the (free) links on there will tell you a lot of what you need to know and do...
cgi3.ebay.co.uk/ws/eBayISAPI.dll?ViewUserPage&userid=talkinpeace

hatwoman · 04/02/2011 13:35

doing what? if, like me, it's doing similar work to that you did when employed, for the same/similar people with whom you already have contacts then it costs nothing.

hatwoman · 04/02/2011 13:36

oh and lawks knows where £2k for accountancy comes from. I have had zero costs in accountancy until this year when I farmed out my tax return for a couple of hundred quid

WildhoodChunder · 04/02/2011 15:06

Thanks, that's reassuring to hear. It would be the same kind of thing I did previously, marketing/pr copywriting so fairly straightforward I would have thought/hoped... A couple of hundred sounds a bit more manageable! Really useful stuff on your ebayme page, thanks Talkinpeace.

OP posts:
hatwoman · 04/02/2011 15:44

you need to register as s-e and keep some very basic spread sheets. I can barely use a spread sheet but I manage it! I have 2: one is a just a list of all my business expenses (travel and stationery mainly); the other is a list of invoices and the dates on which they were paid. I think that if you're offering a service - most of which comes out of your head, iyswim, - then it's a lot lot easier.

The main thing, imo, you need to set yourself up, in a service-type line of work - is contacts. maybe you'll need to put together a nice glossy portfolio to show off your work (which might cost a bit) and get out there touting (again might cost a bit - in travel) and depending on your contact you might want a website. but it's not essential - I set up in a specialist area of research and policy work - and have got all my work through contacts, or through bidding. I do have a v. small web presence on someone else's website and I have been approached for a couple of things through that.

Talkinpeace · 04/02/2011 16:34

Hatwoman and Wildhood
on my other home (ebay) there is a guide written by a member called Mountcomp all about how to set up an accounting spreadsheet. It's EXCELLENT!

On my Ebay page is a link to the form for registering as SE etc :-)

goldenpeach · 05/02/2011 19:00

It costs very little to set up if you do your own tax return (Inland Revenue does a good guide on becoming self employed) and are a sole trader. But have savings as work might not turn up soon enough! For simple accounts people pay perhaps £400 a year.

PermaShattered · 09/02/2011 20:48

For starters, it depends on whether you're planning on being a sole trader or a company. I'm about to have a company set up - been to my accountants this very morning so if it is a company you want let me know and I'll tell you more..... x

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