When you're pushed into freelancing due to redundancy...
Not everyone chooses freelancing. Some find themselves in this situation, and don't have the benefit of planning ahead.
I’m frustrated by all of the gaps and challenges I see people in my industry facing.
I’m frustrated by the lack of funding, resources and capacity I have to try and support individuals who need it.
I’m seeing redundancies from mergers and re-orgs, or people finding themselves unable to find a perm role - and lots of messages and emails from folk asking whether it's a good idea to go freelance.
Whether or not it’s a good time - if you don't have other options, some contract work might help whilst you're figuring things out.
Remember:
1/ If you're getting contracts, aim for contracts which treat you as an employee, even if its on a fixed-term contract, so you get sick pay, holiday pay, and you're taxed at source rather than registering for self-assessment. But the reality is you might end up needing to register, or even work with an accountant to sort out any wonky income taxes and NI contributions, to ensure you aren't paying too much or too little.
2/ Freelancing is a mindset shift, not a temporary way of working, but if you're forced into it - get your head around what it means from a taxation perspective quickly, and understand your pricing to make sure you're not undercharging. Do a personal budget immediately, and figure out what you need to be making each month before taxes.
3/ Join as many support communities as you can, ask lots of questions, don't be afraid to ask something stupid - most freelancers are hugely helpful and will share their experiences, but also there are some amazing resources for those whose roles were made redundant, such as Club Redundo.
4/ Be open with clients that you're open to different ways of working, i.e. not just short-term contracts, but retainers, longer-term contracts or perm. Many hirers of freelancers assume we aren't looking for perm work - but I think that's not always the case right now.
5/ And be gentle with yourself - whilst it was your role that was made redundant, not you - it's still hard to not take things personally. Lean upon your support network, family, friends - even talking to a stranger can help.
For the advertising and media industry, make sure you're aware of the amazing work which NABS do, as they offer invaluable support, guidance and resources. There’s also some good stuff over at CALM
I’ll try and create something a little longer when I have time.
I wish I could do more.
Have you had your role made redundant?
What advice would you give others in a similar position?
I'm one of the 'pushed' - it was 20 years ago, and I'd just relocated my family to the other end of the country to take up a dream career offer that disappeared before we'd finished unpacking...
It was an age before LinkedIn, iphones, and freelancer communities, etc. I had to use sharped bones to scratch messages on to rocks, which I left on the roadside, in the doorways of offices, etc...
The choices I faced in this sudden change of working were very different to the narratives we usually hear about people who move into self-employment, especially as it was all on me to support the whole family (no initial contracts or warm leads, no one else bringing in money to pay the rent, etc...)
So I'm always appreciative when people prompt/remind us all that there are other ways that people come into self-employment that may be messier, less intentioned, and more panic-inducing than the stories we usually hear about.