A survey published by Development Economics and YouGov has revealed that one out of ten potential female entrepreneurs are not confident they have the necessary skills and know-how to start their own business or run a company.
While there are plenty of resources out there to support women in starting their own business, there could be a disparity between this and a woman’s ability to access this support or even having the awareness that such support is available.
In the survey, 34% of respondents cited lack of access to finances as a major factor preventing them from starting their own business and 72% of women said there were not enough female role models running a business similar to their ambitions.
While the number of female entrepreneurs is growing in the UK, more women need to feel empowered to branch out from permanent employment to start their own business if that is what they wish to do.
Not only does contracting and freelancing via your own company offer a higher earning potential, but it offers autonomy and flexibility that is incomparable to what one can get from permanent employment. Women should be encouraged to follow their ambitions of working as contractors and in turn become experts in their field.
How do I become a contractor?
If you are ready to start your own business and become a contractor in the UK, it is easier than you think. Depending on the nature of your work, you have the opportunity to set up your own limited company through which you offer your skills and services.
Read more about becoming a contractor in the UK and finding contract work.
There are also specialist contractor accountants such as Churchill Knight & Associates Ltd that can help you start your contractor business. We can help you incorporate your business and set up a business bank account. We also help take care of your company registration for VAT, PAYE and National Insurance.
Before you reach that step, if you need access to funding to help start your own contractor business, there are start-up angels and small business funders who can support passionate female and male entrepreneurs. Crowdfunding is another option to help get your contractor business up and running.
Churchill Knight, as your contractor accountant, will take care of all of your invoicing, payroll and bookkeeping so you do not have to feel overwhelmed at the prospect of completing your own limited company administration.
To find out more about how to switch from permanent employment to contracting, get in touch with us on 01707 871622 or email enquiry@churchill-knight.co.uk and we can help you decide which business option is right for you.
Find out more about our services or discover your potential take home pay as a contractor by clicking below.
