As a freelancer, your destiny is in your own hands, and this is the main reason so many people have made the switch and gone out on their own.

But the road less travelled is often precarious, with freelancing bringing its own set of challenges.

When it comes to securing a mortgage, for example, you may discover that you have your work cut out for you.

Why, though? And what, if anything, can you do about it? Let’s take a look.

Is it harder to get a mortgage as a freelancer?

Generally speaking, yes – it can be. From the perspective of a potential lender, freelance income is typically considered to be far more unpredictable than a salaried income. Someone who undertakes freelance work simply can’t provide the same level of certainty or reassurance as someone who is a PAYE employee on a fixed annual salary.

The reality is that not all loans are created equal, and so it’s reasonable to assume that, as a freelancer, you will be judged more harshly than someone in full-time employment.

On top of the fluctuation typical of freelance cash flow (which can be a red flag to mortgage lenders), there are also business expenses to consider on top of your personal costs, and these can further affect your ability to pay back what you owe.

What can freelancers do to help secure a mortgage?

So, where does that leave you? Is it all doom and gloom? Thankfully not, as there are some steps you can take to try and improve your overall attractiveness to potential lenders when you’re getting ready to buy a house as a freelancer.

Put down a bigger deposit

In most cases, the bigger the deposit, the more reliable (and therefore attractive) you’ll appear to a lender.

You’re essentially putting your money where your mouth is and demonstrating your commitment to repaying the loan in full, which of course makes the lender feel better about the whole thing.

It ultimately comes down to your own unique situation and financial circumstances, meaning it’s a good idea to seek advice from a specialist in the field. A mortgage broker or lender will be able to go over your options, and a good accountant will be able to get into more detail about affordability.

Gain experience as a freelancer

As we’ve established, mortgage lenders can be wary of freelance applicants due to the unpredictable nature of freelance work, which can result in missed payments.

It’s smart to try and log at least two to three years’ worth of freelancing financial records before you approach any potential lenders, as this way you’ll have something to point to which demonstrates your reliability.

You’ll still need to show that you have plans for the future, but, more than anything else, historical information serves to reassure lenders that you actually know what you’re doing (no small thing).

Also, you can use the extra time to increase the size of your deposit!

Maintain a good client list

Like the financial records, a good client list will go a long way towards convincing a potential lender that you can be trusted to deliver.

The best way to attract clients is by putting a marketing plan into effect, and this should include such things as an online presence and pitching. If you’re just starting out, you’ll want to start relatively small and build up to taking on more work (and from a wider variety of clients).

One thing to remember is not to put all your eggs in one basket, so to speak. For example, by relying on one big client who could up and leave at any time. At the beginning, you want to focus on baking muffins, not cakes!

Keep good credit and business records

This should really go without saying, but any potential lender will more than likely conduct a credit check on your business, and so it’s a good idea to deal with any outstanding loans in advance.

More generally, you should also ensure your records are in good shape (accurate/up-to-date) and keep an eye on your cash flow.

If you think you might need help with this but you don’t want to hire an accountant or bookkeeper, good bookkeeping software will automate the whole process, meaning you don’t have to rely solely on your own judgment.

It’s also worth noting that if you operate as a sole trader, then legally speaking there’s no difference between you and the business. It makes it even more important that you can show a separation between freelancing finances, and your personal transactions.

Find an accountant

Working with a good accountant can be another marker of stability in the eyes of a mortgage lender. They’ll help you keep your finances in order and minimise mistakes, while an exceptional accountant will also advise you on how to be more tax efficient in the process.

Of course, they can also assist you with a mortgage application, making sure you’re giving yourself the best possible chance.

How much can a freelancer borrow?

Unhelpfully, there’s no cut and dried answer to this, as borrowing is based on an individual’s annual income and unique circumstances. This means the amount you can borrow is different for everyone.

Generally speaking, though, the higher your annual income, the more you will be able to borrow, and an accountant can help you get the best deal possible.

Head over to our information hub for more guides, news and advice on navigating life as a professional freelancer, from finance to tech and more.

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Working from home and avoiding the commute gives you some precious time back too. This can be used to spend time with your loved ones, do some exercise, indulge in a hobby, or simply get some more sleep.

Government data found that 78% of those who work from home in some capacity agreed that being able to ‘WFH’ gave them an improved work-life balance.

Statista also revealed flexible scheduling (50%), cost saving (43%) and the availability to care for relatives and pets (34%) as the most named benefits of home working.

The benefits of getting out and about

Although there are many brilliant advantages of working from home, it is good (and advisable) to get out of the house and work in a fresh environment from time to time. This could mean a co-working space or other places you can work remotely for free.

The benefits of co-working for freelancers include:

• Human contact to combat loneliness
• Better productivity, focus and concentration
• Fewer distractions (like the washing machine and Netflix)
• Networking opportunities
• Less sedentary daily activity

Next, we share some of the best co-working spaces in London so that next time you’re working in the Big Smoke, you know precisely where to park yourself.

Top London co-working spaces

The very first co-working space opened way back in 2005. Since then, the number has rocketed into the thousands, with Statista predicting there to be around 41,000 global coworking spaces as of this year.

In London, there are thought to be around 1,400 coworking spaces currently. Naturally, we can’t spotlight them all in this article – we know you need to get back to work.

So, here are seven of the best, coolest and most popular co-working spaces in London right now. Add these to your rotation when it’s time for a change of scenery.

Work.Life – Camden

13 Hawley Crescent, Camden NW1 8NP

Price guide: £6 per hour or £350 per month

As a creative freelancer in London, there’s no cooler place to be than Camden. As well as the expected desks, meeting rooms and breakout spaces, there’s also a close-knit community vibe here that members love. Free events and regular socials provide the perfect networking opportunities.

All types of membership fees cover access to shower facilities, private phone booths, printing facilities, and complimentary coffee.

Huckletree – Shoreditch

Alphabeta Building, 18 Finsbury Square EC2A 1AH

Price guide: Hot desk for 10 days per month for £265p/m.

Huckletree has a number of co-working spaces around London, and even more in other parts of the country. If you’re looking in trendy Shoreditch for a place to get your head down and tackle your to-do list or host client meetings, check out their space in the iconic Alphabeta Building.

It’s a bustling, creative co-working space that’s particularly popular with tech startups. Get involved in regular networking events and growth workshops here while you’re working in the Big Smoke.

Check out the ‘focus-enhancing library’ when you need complete peace away from the buzz of the breakout spaces, meeting rooms and desk areas.

Pavilion Club – Knightsbridge

64 Knightsbridge SW1X 7JF

Price guide: Hot desk from £250p/m

Does a hot desk with views over Hyde Park sound good? This is where you’ll find it. Benefit from top-of-the-range conference call technology, premium shower facilities and 24-hour access.

Pavilion Club is particularly great if you’re looking for somewhere with wow factor to host client meetings in Central London. As stunning inside as it is out, the premium meeting spaces here are sure to help you make the right impression.

Especially if you take them up to the roof terrace or down to the ground-floor bar and restaurant, with a menu from Michelin-starred chef, Tom Kerridge.

Paddington Works – Paddington Basin

8 Hermitage Street W2 1BE

Price guide: Dedicated desks, £450pm. Hot desks, £350pm. Day pass, £25.

Hot desks have been designed with a user-centric approach to facilitate different types of working styles, whether you prefer quiet focus or the buzz of conversation. Interior design and furniture are equally ergonomic so you can be comfortable while you’re working away.

Need somewhere to record a podcast? Paddington Works is equipped with the latest software and equipment, as well as expert studio engineers to help with all your recording, editing and production needs.

WorkingFrom – Southwark

32 Blackfriars Road SE1 8PB

Price guide: £200p/m for hot desks

Flexibility is the main focus at WorkingFrom. Solo freelancers rub shoulders alongside businesses with large teams – and everything in between – in a trendy space set up for agile working of all shapes and sizes.

Amenities include complimentary meeting rooms, breakout spaces, a wellness studio and privacy phone booths. Other great features include day-use lockers, secure bike storage and even an in-house laundry service. Oh, and impressive views over the Thames through floor-to-ceiling windows.

Second Home – Clerkenwell Green

Clerkenwell House, 45-47 Clerkenwell Green EC1R 0EB

Price guide: Hot desk day pass from £18 per day or £250p/m

Renowned for its biophilic design and natural light, Second Home is like a sanctuary within the city. The perfect place to co-work if you’re a freelancer looking for a little company but still keen to find calm so you can concentrate distraction-free.

There’s even a members’ Slack channel so you can stay in touch with people you meet and mingle with. From desks and meeting rooms to breakout spaces and a community cafe, there’s everything you need.

Storey – Broadgate

Storey Club, 100 Liverpool Street, Broadgate EC2M 2AU

Price guide: From £925pm

This award-winning space is more than just a workplace. It’s a multi-purpose complex complete with luxury stores, bars, and restaurants, as well as a roof terrace restaurant with sprawling views of the city.

Running off 100% renewable energy, everything from the lights, temperature and air quality to the traffic of members is controlled by SMART sensors. One for those with bigger budgets – but a glorious location all the same.

Head over to our freelancer information hub for even more guides, tips, and advice.

The post What are the Best Co-Working Spaces in London? appeared first on Freelancer News.

But is it as great as it sounds? It can be, but it all depends on what sort of room your freelancing needs. We share our favourite tips on how to set up your home-working space, and answer some of your most frequently asked questions – including what it means for your tax bill.

Can anyone work from home?

Plenty of people work from home, although you may need to make particular arrangements depending on the nature of your freelance work.

You won’t normally have much to worry about if your work is online based (beyond a decent internet connection). If you’re making changes to the property, having clients over, or running a larger operation, you might need to ask permission – such as from your landlord or mortgage lender.

Do I need insurance if I freelance from home?

Most tenants and homeowners have insurance to cover the property and/or contents, so it’s worth checking that working from home won’t affect your existing cover.

You might also need additional insurance policies depending on the freelance services you offer.

Can freelancers claim expenses for working from home?

Freelancers pay tax based on the profit they make rather than the total amount of income, so claiming tax relief on your business expenses is very important! Most business costs are ‘allowable’ as long as they relate directly to your work.

If you work from home, then you may be able to claim a proportion of your household bills as a freelancing expense too.

What are the pros and cons of freelancing from home?

These might be different for everyone, depending on what sort of work you do and who you are as a person. Some people prefer the company of others despite working alone, while others crave silence, for example.

• Cost: Working from home can be cheaper for freelancers. It’s a space you’re (probably) already paying to occupy, and you’re less likely to spend money on lunches, coffees, and transport than you might if you worked away from home. You might even escape those pesky business rates.
• Time: Having your office just across the landing really does cut that commute! This can make it too easy to be in work though, which brings us to…
• Work/life balance: When work and life happen in the same place, you may need to put measures in place so you can focus when needed, and switch off when it’s time.
• Expenses: You may be able to claim tax relief on working from home expenses which relate to your freelancing
• Distractions: Some freelancers find that setting a strict working schedule helps if this is realistic for your circumstances.
• Loneliness: Working without any human interaction can affect your mental health, so you might find you need to change things up from time-to-time
• Backups and security: Communications, client data, the work you produce – it’s all your responsibility to keep it safe! Make sure you’re the only one who can access it, and that everything is backed up.

How do I set up a home-working space?

Pinterest and Instagram’s vision of working from home might not match the reality of your freelancing budget, but a good workspace does matter. If you want to optimise your productivity and mental wellbeing, it might be time to give your office or workshop some love.

Workplace injuries are often a result of poorly set up workstations which, over time, lead to health problems including:

• Musculoskeletal disorders
• Muscle pain and wastage
• Inflamed joints
• Repetitive strain
• Eye strain, irritation, or blurred vision
• Chronic headaches or migraines

If you work at a bench, is it tall enough for you to use without hunching over? Likewise, if you need a desk, is it set to the correct height, with space for everything you need, and a good chair? Natural daylight and fresh air can also make a huge difference in your mood!

Lighting, layout, acoustics, and equipment will make an enormous difference.

Storage is also an important consideration so if you rely on paper, you might consider saving some space (and printing costs) with cloud-based work.

How to stay focused and beat distractions when freelancing from home

Distractions and interruptions can be a major struggle for freelancers working from home. Your kids might wander in, the sofa is right there, and there’s always at least one person who simply doesn’t understand that you’re working from home.

We share some of our favourite (tried and tested) tips for beating freelance distractions.

Designate your working space

Wherever possible, try to assign space that’s just for business use. Whether it’s your spare room or your garden shed, a separate workspace can make a difference to your mindset and concentration.

If that’s not practical, consider marking out your work territory in another way, for example:

• Avoiding your normal down-time lounging locations on the bed or the sofa if you’re laptop based
• Storing kit out the way after appointments if clients visit your home for beauty treatments or physical therapy

Just remember to discuss your arrangements with anyone you share your home with first!

Tackle the doom-scrolling

Knowledge might be power, but unlimited access to online information is sometimes difficult to resist. Everyone procrastinates with a spot of social media scrolling or online shopping, but it can be easy to get carried away.

There are lots of tools and apps which can help, from blocking certain sites at set points in the day, to displaying a big timer which starts when you open certain apps.

You might even set up a separate browser profile just for freelancing (double bonus points for not being followed around the internet by adverts relating to your work).

Handle family distractions

The people you live with can be very distracting, especially if you’re part of a busy household. If you don’t have the option of simply shutting the door, you could try noise-cancelling headphones, or gently remind everyone (and yourself) that you’re trying to earn a living.

Failing that, you might simply arrange your working hours around what’s happening at home. You are your own boss, after all.

Beat procrastination

Before you start setting increasingly strict rules for yourself, do you procrastinate because you’re bored or overwhelmed (or both)? It usually helps to break tasks down into smaller, more manageable chunks.

That way you can reward yourself with micro-breaks, rather than cleaning the bathroom to avoid a five-minute phone call.

Create to-do lists

Yep – this old chestnut! Just like a business plan helps you focus on your long-term goals, a to-do list will help you stay on track for the short-term stuff. Consider using a daily and weekly (and maybe even monthly) list and again, break everything down into manageable tasks.

How can I switch off when I work from home?

Separating work and home can be difficult if they both take place under the same roof. If you’re struggling to down tools (or get started) help is at hand.

Separate phone lines

Creating a separate phone line for your business allows you to switch it off out-of-hours. There’s also less risk of someone answering your work calls (and forgetting to pass on a message).

Decide what time you’re going to work

Self-employed freelancing normally means you can set your own hours – particularly if you work from home. Be flexible when you need to, but if you’re struggling to get motivated or switch off you might find it useful to set working hours. And stick to them. You can still take breaks to do other things. But stick to them.

Get ready for work (and rest)

Tempting though it may be to work in your pyjamas, be honest with yourself. Does this help you get into work mode and feel professional? Getting physically ready helps you prepare mentally, just as changing back into your chill-out clothes will help you switch-off when you’re done.

Make rules for your workspace

Freelancing is still work and you still need to hit deadlines, communicate effectively with other people, work to a satisfactory standard, and get enough done to earn a living. It’s still work.

Your health and wellbeing, work schedule, and productivity are now down to you. Boss-you needs to make some working-from-home rules. Be firm with yourself!

Work when you should be, but remember that breaks are essential for your physical and mental health.

Have a winding down routine

A routine makes the winding-down process into a subconscious habit, easing you into the right frame of mind so you can shut off when it’s time. It will look different for everyone, but it’s often helpful to clear the decks so everything’s ready to go again when you’re ready.

Create a separate work and personal login

If you use a computer or device for freelancing, separate user accounts for your work and personal lives minimises overlap. It might help you focus just as much as making it easier to disengage.

Freelance alternatives to working from home

Some freelancers love working from home and have no problem getting their work done, but if you find some days tricky (or don’t fancy meeting clients at your dining table) then you may need an alternative.

Co-working spaces

Co-working spaces are available across the UK and can normally be hired on a very flexible basis – even if you just need a meeting room for an hour.

Libraries

Libraries are free, have internet access, scanners, printers, and other people if you’re feeling a bit lonely. Just keep in mind that you might not be popular if you’re making phone calls all day. It’s also worth checking if they have dedicated silent or study areas (in case Toddler’s Storytime isn’t the vibe you were after!).

Coffee shops and cafes

Most coffees shops and cafes are happy to let you sit there and work, providing you buy relatively frequent drinks and don’t drag out your own packed lunch. You may even help a quiet place look busier!

Desk surfing or swapping

If you have an obliging friend (or two?) with space, are they happy to share or let you work there alone from time-to-time? Worth an ask!

Visit our Freelancer Resource Hub for more guides and articles.

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We look at what it means to buy a house when you’re a freelancer, what to expect from income assessment, and share some tips to help steer you in the right direction.

Can a freelancer get a mortgage?

The simple answer is yes, it is entirely possible to get a mortgage as a freelancer. This means you can pursue your freelance business and still be on track to buy your own home.

Unfortunately, it can often be significantly more difficult for you than your salaried counterparts. For freelancers, the eligibility goalposts are shifted and demonstrating proof of affordability to mortgage lenders is a far more rigorous process.

Lenders and freelancers

Mortgage lenders assess applications against things like employment stability, income consistency and credit history – anything that indicates a person’s ability to repay what they borrow. For freelancers with fluctuating income, convincing lenders you can make mortgage repayments, along with interest, can be a bit of a battle.

Not all lenders will be open to the idea of letting freelancers borrow due to the more complex way self-employment income is generated. That said, there are lenders out there who are more flexible than others.

Another positive is that because an increasing number of people are choosing self-employment – there are now more than 2 million freelancers the UK alone – more and more mortgage lenders are reconsidering who they’re willing to take applications from.

Deposits for freelancers

You might be wondering if freelancers need to pay bigger deposits than salaried buyers when purchasing property – the answer isn’t a simple yes or no.

As a freelancer, you don’t need to pay a bigger deposit by default. However, it could certainly strengthen your mortgage application process if you can afford to put a larger lump sum down.

Offering a deposit of 20%, 30%, or even more, could significantly boost your chances of approval.

This isn’t a hard-and-fast rule, however. If your income is solid and your affordability profile looks good to a lender, you may very well be accepted with a 5% deposit. It’s all about doing the right research and reaching out to the right lenders. You might find a mortgage broker helpful.

How freelance income is assessed

If you’re registered as a sole trader, lenders will typically establish your affordability through your net income – what’s left once you pay your tax bill and other expenses. If you’re the director of a limited company, lenders can take salary and dividends into account too.

If you work from contract to contract, mortgage lenders will want to understand the value of these contracts to ascertain your affordability status. In some instances, lenders may base this on your daily rate instead.

So, how your freelance income is assessed really depends on what type of structure you operate your business as.

You’ll find that most mainstream lenders will ask to see three years’ worth of accounts, but there will be others who are willing to assess your application based on two or even just one year’s worth of accounts and earnings. You’ll normally also need to submit a SA302 tax calculation form to show evidence of your earnings.

Remember, the mortgage application process can vary massively from one lender to another, and eligibility criteria can be even more nuanced. Shop around and compare your options to find the one that suits you.

Mortgage tips for freelancers

Securing a mortgage as a freelancer is more of an uphill battle than it is for those with a regular employment salary. Here are some tips to help.

Use a self-employed mortgage calculator

There are a whole host of mortgage calculators available online to help you work out what you can afford to borrow according to your income and desired deposit. There are even several mortgage calculators designed specifically for self-employed people such as freelancers.

Using a mortgage calculator will give you an idea of your current situation and where you stand financially before you even start house hunting. You can use this to help you work out a savings goal or timeline, and to establish what kind of property or location you can afford.

It is important to note, though, that while tools like these are useful, they should only ever be used as a rough guideline. Criteria can vary so much between lenders and individual situations.

Set up a meeting with a reputable mortgage advisor

Look for a mortgage advisor who has worked with freelancers or other self-employed people in the past. They’ll understand the particular hurdles you’re facing and will be able to give an informed opinion about how low, mid or high-risk your application may be.

They’ll also be best placed to offer expert advice on how to improve your chances of securing a mortgage as a freelance earner.

Seek advice from your accountant before applying for a mortgage

When it comes to any matters related to money, especially big decisions like buying a house, it’s always a good idea to schedule some time with your accountant and examine your finances first.

They’ll be able to help you make accurate forecasts based on your situation, which will allow you to gain a better understanding of your affordability.

Plus, they’ll also help you ensure you’re up to date with all your taxes and any other payments. This is crucial as your affordability can only be based on the income you declare and record!

 
Find even more advice and guidance for freelancers in our info hub!

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But not all that glitters is gold; the life of a freelancer also comes with some stumbling blocks that are just part of the territory. One of these stumbling blocks comes in the shape of time off sick.

Time off sick can be stressful enough, but at least an employee can rely on statutory sick pay, allotted days off for sickness, and the support of colleagues to keep their to-do list ticking over whilst they’re gone.

Freelancers don’t have access to such reassuring luxuries, so time off sick becomes more challenging to navigate. In this article, we share our advice on how to deal with time out sick as a freelancer, including:

• Being transparent with your clients and communicating the situation clearly.
• Reach out to a trusted network of contacts to cover your work if need be.
• Work with an accountant to ensure your finances are in good health, even if you aren’t.
• Consider something like Income Protection Insurance for peace of mind.
• Making sure you take adequate time off to rest up and get better.

Open communication with your clients is key

First things first, you must be open with your clients. You’re a human being and sickness can’t be helped. They’ll be understanding and more than likely, accommodating in working around it.

The last thing you should do is try to conceal your time off sick to your clients because as the old adage goes, the truth will always out. That won’t make for loyal, longstanding relationships!

Plus, if you’re under the weather and not performing to your maximum potential, your clients will start to wonder why standards or deadlines have started to slip. If you keep them in the loop, they’ll be far more forgiving.

Top tip

Set an out-of-office autoreply on your emails. That way you can let clients know you’re either working with limited availability or out of office entirely, without having to respond to individual messages. It will also help you manage expectations if any new leads come in, and let them know that they can normally expect swifter service.

Outsource to trusted contacts if necessary

The fact of the matter is that even if you’re injured or under the weather, clients still need their projects turning around. Deadlines don’t always make way for sickness, unfortunately.

If you have a network of trusted contacts who you can call upon to help lighten the load and keep the workflow flowing, now’s the perfect time to consider outsourcing work.

Top tip

Again, honesty is the best policy. If you do decide to outsource client work whilst you’re unwell, it’s better to tell your clients in advance. Remember, they might not want to work this way, and very well prefer to press pause for a while until you’re back in action yourself.

Hire an accountant to keep your finances in check

For freelancers dealing with time off sick, it’s well worth hiring the expertise of a qualified accountant to maintain your financial health when you’re not feeling so hot yourself.

Working with an accountant – in the long-term, not just during a period of sickness – will help maintain a healthy cash flow and eliminate unnecessary spending. This will be invaluable if and when you do fall ill, and can help you stay operational for longer, and hopefully with a cushion of cash to fall back on whilst you’re out of action.

An accountant will also be able to advise on the best pricing structure for your services so that you can build things like unofficial sick pay into your costs. That way, taking time off won’t have to impact your income quite so drastically.

Consider getting insurance cover to protect your income

In situations like this it’s always a good idea to apply some damage control and in this scenario, that comes in the form of insurance. Income Protection Insurance, for example, will help protect your finances for a small monthly cost if you fall ill.

It’s also worth checking out the business interruption benefits put in place by the Association of Independent Professionals and the Self Employed. Again, for a small monthly fee, you can access invaluable income cover to protect you if you get sick and can’t work.

Take adequate time off to rest and get better

Last, but certainly not least, is to make sure that you take sufficient time off.

When you’re responsible for your own client relationships, time management, and income, it can be tempting to prioritise this over your health. In reality all that will do is set you back in the long run, and inevitably end up affecting all of the things you were trying to avoid impacting in the first place.

Like you would if you were an employee within a business, take time away from work completely. Sign out of your emails and switch off your laptop – only turn it back on again if it’s to binge something on Netflix. Give your body the time and space it needs to recuperate and recover so that you can return to work fighting fit and in full health.

If your sick leave is something more serious than a common cold or stomach bug, taking adequate time off is even more important. And yes, that includes taking care of your mental health, too. Follow the doctor’s orders and rest up until you’re truly ready to get back .

Hopefully, now that we’ve shared our advice with you, you’ll feel more reassured about taking time off sick if necessary. With efficient preparation, a trusted network and transparent communication, you can reduce the impact sickness has on your reputation and income as a freelancer. Visit our freelancer info hub for more topics. 

The post Dealing With Time Off Sick When You’re Freelance appeared first on Freelancer News.

A popular alternative to home working is the café, but is it really that beneficial?

The pros of café working

A change of scenery

There’s a lot to be said for a change of scenery. Life can get pretty stale sitting at home, slogging away on your own. Plus, seeing the same four walls everyday can be boring.

Motivation

Setting yourself a time to get there can bring order, routine and motivation to your day. And although nobody’s paying any attention, it can encourage you to get the work done.

Inspiration

The things and people you see, and the conversations you overhear (come on, it’s not just me) can all inspire you and provoke those lightbulb moments.

Social interaction and combating loneliness

Humans are social animals and interaction with others is important for our mental health. If you don’t just work from home, but live alone too, then your contact with other people may be limited. Working in cafés gives you the chance of at least a smile from someone else, and with luck, a chat.

The Cons of café working

The cost

Few cafés or coffee shops are happy to let you sit there taking up space unless you buy something, and prices are usually higher in places that belong to a chain and boast Wi-Fi. If you don’t need Wi-Fi, or you’re happy to do any research required via the data on your phone, you can reduce your costs by finding smaller or privately run cafés.

Outstaying your welcome

However slowly you try to eat and drink, there’s only so long you can make that coffee, cake or sandwich last. Then comes that crunch point, when you look up and realise you finished your last coffee half an hour ago and are now under intense and unfriendly scrutiny from someone behind the counter.

Non-existent Wi-Fi

A lot of places (looking at you, Costa) require you to sign in before using their free Wi-Fi. Others might forget to mention that the free Wi-Fi is actually only for the first 15 minutes, and then you’re expected to start paying.

There’s nothing worse than buying yourself lunch and a coffee somewhere and then discovering you’ll need to go elsewhere to actually get a decent amount of work done. (Tip: Always check the Wi-Fi from the safety of the back of the queue first!)

Distractions

Having a lot going on around you can be great for tackling feelings of isolation or loneliness. However, depending on what you’re doing and how you like to work, having people around you can be rather distracting. Especially in a loud environment, or with intrusive people. You could always get extra focus listening to white noise to block out the background noises, check out A Soft Murmur and The Sea Cast

Strangers who are too sociable (or too strange)

Social interaction is great, but there are some people who don’t know when to stop—or take no notice of your cues indicating that it’s been lovely meeting them, but you’re jolly busy, thank you, and need to get on. And sometimes, there are strange conversations and situations to deal with too; strangers who plonk themselves down at your table, despite a myriad of other seating choices, and launch into bizarre monologues.

Café; coffee shop; pub; library; co-working space; home. Where’s your favourite place to work?

The post The Pros and Cons of Café Working appeared first on Freelancer News.

However, if you’re a freelancing parent, you’ll know the flipside is that there will always be times when you need to work, but your child also needs to be cared for. It can be hard to concentrate with Peppa Pig perpetually jumping in muddy puddles a few metres away, eliciting excited shrieks from your too-easily-impressed offspring.

A slowly-growing number of co-working spaces offer a solution: on-site childcare or child-friendly workspaces.

London leads the child-friendly co-working race

London leads the way in co-working—there are more co-working spaces there than in New York, and in the UK, it’s the place to be if you want your child cared for close by while you work.

Nurseries and childminders are all very well, but for sound financial reasons, they tend to want to know when they will be looking after your child and for how long. The flexibility you’ve gained in your working life is often lost when you’re trying to match it up with childcare.

So far, none of the co-working giants have taken the leap and some sites in other places have tried and failed, blaming tight profit margins and an abundance of red tape. But some smaller sites are now offering childcare or a child-friendly working environment. The vast majority are in London, although ImpactHub, offering very limited childcare, is based in Birmingham.

London

Cuckooznest, the brainchild of Cuckooz Charlie Rosier and her business partner Fabienne O’Neill, was the result of two observations coming together. Rosier struggled to find affordable and flexible childcare when returning to work after having her first child, while the Cuckooz team, who run a serviced apartments service, noticed how many of the apartments were used by young remote workers. The site in Farringdon allows you to book office and space for under-twos in the Ofsted-registered crèche on a pay-as-you-go basis, from as little as one hour a day.

Their prices range from £10.80 to £20 per hour depending on how regularly you use the space and a monthly membership, where you commit to booking a minimum of 8 hours a week with 4 weeks’ notice period, is available. 8 hours per week costs £86.40 inclusive of creche, workspace and attached benefits.

Huckletree West in White City doesn’t have an on-site creche, although they will help you book childcare through the Bubble app if you wish. What they do have is a child-friendly workspace in and a community feel. Its ‘Power Parents’ membership(£175 a month) allows you morning or afternoon access to the Kids Studio, a workspace featuring a play area and private nursing area, and separate baby changing facilities.

40% of Huckletree West is dedicated breakout space for collaboration and chilling out, with a no-tech Meditation Yurt, sunken seating zone and podcasting booth for content creators. There are shared working spaces, private studios, resident desks and numerous events to enjoy.

Second Home Londonfields isn’t open yet and prices for membership including childcare are still not verified (other memberships range from £250-£550 a month). However, there are already Second Home sites in Lisbon and Los Angeles and now three in London, with the recent opening of their Clerkenwell Green site.

Londonfields is set to be the first that offers childcare, with an on-site Nursery run by N Nursery & Family Club. It will also offer showers, a café and a wellness programme together with the use, 5 days a month, of any of their other locations. Interested? You can book a tour and see it for yourself.

Third Door, located in Putney, was the UK’s first, flexible coworking space with an onsite Ofsted registered nursery and takes children from 3 months to 5 years old. It’s an award-winning working space and the traditional nursery set up means you can be offsite, even for the whole day, if you need to be.

Like Cuckooznest, it was the result of the frustrations of one of its founders. Shazia Mustafa tried to balance work with the needs of her five-month old daughter and wanted a place to work in peace, where her baby would be cared for nearby. She started Third Door with her husband when she couldn’t find one.

Prices start from £11.50 per hour and there is a flexible membership package that allows you  to buy an amount of hours per month, or fixed membership packages that start from £347 a month for a day’s childcare per week (which is around £81) a day. Their booking software allows members to make their own bookings and offers flexible booking, which means you don’t pay when you are on holiday, as you can swap days around to suit you.

Birmingham

ImpactHub is a co-working space that offers a children’s membership alongside your own, giving your child access to high-quality childcare for children from 6 months to preschool age between 10 a.m. and 1 p.m. every Thursday.

Children’s Membership can be purchased in conjunction with any other Impact Hub Birmingham membership at an additional £20+VAT, per child. Parents, guardians or carers must stay on-site at Impact Hub Birmingham for the duration of the session.

Even those sites with a more traditional nursery save you the double-commute of travelling to your childcare provider and your workplace, and the popularity of these sites proves there’s a real need for the service they provide.

If you’re a freelancing parent living outside London, would you welcome a co-working space close to home? Share your thoughts!

The post Freelancing Parents: Heard of Co-Working Spaces with Childcare? appeared first on Freelancer News.

Good work comes in small packages

Many years ago, a time-management thread introduced me to American time-and-house-management guru, Flylady. While many of her ideas didn’t appeal, her mantra of “You can do anything for 15 minutes!” stuck with me.

She’s not suggesting you can decorate your home or write a book in 15 minutes. She really means “You can bear to do anything for just 15 minutes and knowing you can stop after 15 minutes is a great motivator!” (you can see why she doesn’t express it like that, though; not so snappy!).

Flylady made me realise two things. Firstly, that by not starting things because I thought I didn’t have a big enough block of time to get anything done, I was wasting time; and secondly, I discovered that it’s amazing how much you can get done in 15 minutes. Plus, knowing you’re on the clock can become a bit of a buzz: a challenge to see just how much you can do before the timer goes off!

If you’re trying to work while looking after your children, small chunks of time may be the majority of your work hours, so make the most of them. This gets easier when you break your projects down into small steps. Small steps make your work seem less overwhelming because they feel more achievable.

You also get a more frequent sense of accomplishment, which is a good motivator. 15 minutes is enough to jot down ideas, collect some weblinks for later research or make that phone call, so get going!

 Plan out your time

To ensure you’re on track for completing projects and you’re not taking on more work than you can handle, you need to plan out your work.

There’s no one correct way of doing this, but it’s vital that before you start, you break the project down into stages and assess how long each stage is likely to take. This makes it easier to estimate how long the whole project will take and schedule in each stage.

Once you’ve done that, you need to prioritise your work, taking client expectations, input and deadlines into account – and allow extra time for unexpected events, such as your child being ill.

From here, it’s up to you. You can get apps and programs to manage your time, tasks and to-do lists; I trialled around five extensively and played with a few more before I realised that every one of them cost more time than it saved me, although some were excellent products.

For a while, I had a reusable, whiteboard style year planner with different coloured magnets for each client, but these days I use a column-style family planner diary. I use three of the columns for morning, afternoon and evening, writing in pencil any appointments I have and what I intend to do in each part of that day.

When plans or schedules change, I can just rub out my tasks and reorganise them if I need to.
Experiment and find out what works best for you. Sometimes, the simplest solutions are the best.

Set boundaries and get your family on board

For the sake of your family, your sanity and your work, you have to set boundaries. Family and friends have to understand that if you freelance from home, the only thing that’s essentially changed is your location.

You still have work to do, other professionals who depend on you and deadlines to meet. They can’t visit or phone whenever they want; they should only be phoning when you’re working at home if it’s an emergency.

Conversely, make sure you set aside time when work is a no-go zone. You need downtime to relax and give your children some undivided attention (without one eye on the laptop or your phone). This becomes especially important if you don’t have a dedicated workspace and can’t close the door on your work. At the end of your working day you must move yourself and/or your work equipment, packing it away if possible so that you can’t be tempted to ‘do just a bit more’.

 Get out of the house!

“My freelance work is time and energy-demanding and I need a quiet and calm space to really deliver the work I feel my clients deserve,” says freelance writer Frances M. Thompson on her blog. “My dining table covered in smudged playdough and surrounded by Duplo bricks is not that calm space. I have three days when I go to an office (in a co-working space) and from around 9.30 until 4.30 I am a freelancer at work and [my son] is a two-year-old running around at day-care.”

Even if you feel that home is a place where you can concentrate and be productive, make sure you escape now and then for a walk, networking event, lunch or just a coffee with a friend.

If your child is in tow, what about an indoor play centre, where they can let off steam while you relax (or even get some work done, if the centre is supervised)? Freelancing can be lonely and without the stimulus of other people and environments you can become jaded, so mix it up a bit.

 Streamline your life

It’s easy for freelancing parents to feel they never have a minute to themselves, so make things as simple as possible. Online shopping can save you hours, while apps and services can automate your time-tracking and social media management. And unless you happen to be a freelance accountant, it’s unlikely that you’re speedy or an expert at bookkeeping or filing tax returns, so let an accountant do that for you.

Their detailed knowledge of the tax system and the legal side of freelancing means they can ensure you keep as much of your money as possible (and submit your tax return on time, saving you time and stress!).

Accountancy services are probably cheaper than you realise; at The Accountancy Partnership, for example, fees for freelancers start at just £19.50 a month and include access to free cloud accounting software, giving you a real-time update on your finances anytime, anywhere. They have specialist freelancer accountants and clients have their own dedicated accountant.

If you put any of these tips into practice, let us know how it works out for you. Want to streamline your life? Find out more about The Accountancy Partnership’s freelancer accountancy services

The post Five Productivity Tips for Freelancing Parents appeared first on Freelancer News.

So, what are the going rates for freelancers from different countries and in different sectors? A new report from payments giant Payoneer, based on a survey of over 21,000 freelancers in 170 countries, reveals some interesting facts and figures.

The Average Freelancer

Millennials and late Gen-Xers represent the vast majority of the global freelance workforce. Over 50% of the freelancers surveyed were under 30 and nearly a quarter, under 25.

Worldwide, 6% of freelancers are over age 50. However, in the United States, over 33% of freelancers are at least 50 years old.

In Asia, men represent closer to 80% of the freelance economy, whereas in North America, there’s a fairly even split between men and women.

Average Hourly Rates

Hourly rates reported varied from $3 to $100. 57% of freelancers charge under $15 an hour for their work, while 14% of the respondents charge over $30, but the worldwide average hourly rate charged by freelancers is $19. This is well above the average hourly salary in most of the countries where the freelancers surveyed are based, but down from the $21 per hour rate revealed by Payoneer’s 2014-15 survey.

‘While this may initially sound like bad news, it needs to be considered in light of the emerging economies and evolving markets that have become such a significant part of the economy and are reflected in the population of the survey,’ the report notes.

Age: Freelancers over the age of 60 are earning nearly 60% more than their counterparts in their twenties.

Education: freelancers with advanced degrees earn more than those with high school and bachelor’s degrees.

Gender: Sadly, there is still a noticeable gender gap in pay. This is at its worst in IT & Programming, where women’s average hourly rate is 76% of the average men’s rate, and least noticeable in design and multimedia, where women earn 95% of what men do.

Sectors: Administrative & Customer Support came in at the bottom of the table with an average hourly rate of just $11. Here are the rest of the rates in ascending order:

Writing & Translation: $16

Sales & Marketing: $18

Finance & Management: $19

Design & Multimedia Average hourly rate: $20

IT & Programming, and Engineering & Manufacturing: $21

Freelancers providing Legal services charge more than any other service ($28 per hour) but work the fewest hours per week, which brings us to…

Working Hours

Almost half of the freelancers said their average working week is 30-50 hours, with just 10% saying they work 60 hours or more. Around 22% said they are working part-time (20 hours or fewer per week), which may indicate they are supplementing another income.

Freelancers in Finance, Management and HR work the most hours per week (39 on average), while those who provide legal services work the fewest (33.6 on average).

Where the Work Is

Regardless of their own location:

• Most freelancers (more than two-thirds!) work for clients based in North America
• Half of freelancers work for clients based in Europe.

Nearly 7% of freelancers worldwide work in Administrative & Customer Support, which includes work like data entry, call centre representation, virtual assistance and administrative services.

Working Practices

Over 80% of the professionals surveyed said they focus on 1 to 3 jobs at a time.

When asked about how they find work and promote their services, 73% of freelancers said they find their projects via online marketplaces with word-of-mouth the next best method at 33%. Their favourite social media platform for promotion was Facebook, used by 54% of respondents, followed by LinkedIn (40%), Google+ (21%) and Twitter (19%).

Freelance Wishlist

When asked what they would like to improve, the top four wishes from freelancer were:

1. to make more money (68%)
2. for there to be more methods for finding clients 952%)
3. to work with more international clients (34%)
4. to improve the efficiency of their own work (32%)

How do these results compare to your weekly working hours and hourly income? And what would be on your freelance wish list? Have you noticed a freelance gender pay gap in your sector? Let us know.

The post Freelance Income Across the World appeared first on Freelancer News.

Confidence at a New Low

IPSE’s Confidence Index for Q2 2017 showed that freelance confidence as at an all-time low since their records began.

Only 19% of freelancers felt confident about their business performance over the next 12 months and 52% said their confidence has decreased.

When asked about the top factors lowering business performance, government regulation relating to hiring freelancers was identified as a factor by 81%. 81% also identified government fiscal policies relating to freelancing as a factor, while 59% felt the outcome of the EU referendum was a major factor.

Two-thirds of freelancers also expressed grave concerns about the wider economy with 69 percent of respondents predicting a major slowdown in the economy. The three-month economic confidence index score is now down to its second-lowest level since the all-time low it hit post-EU referendum.

The Cost of Doing Business

92% of freelancers also said they expect their business costs to increase over the next year. Only 4% expected business costs to fall.

While freelancers’ average quarterly earnings have grown by 3.6% since Q1 and their day rates seem to be holding strong, 55% of respondents say they expect those rates to drop over the next 12 months. Freelancers are currently working for 83% of their time, down just slightly from Q1’s figure of 85%.

Suneeta Johal, IPSE Head of Research, Education and Training, said: “Freelancers attribute their loss of confidence to the economic pressure from Brexit and the negative consequences of government policy relating to the regulation and taxation of freelance work. This can be linked to the roll-out of changes to the taxation of freelancers working in the public sector.

“The good news is that these negative drivers are all within the control of the government and, if addressed, could and should help alleviate concerns. Successful Brexit negotiations and reassuring freelancers of their tax status would go some way to increase their waning confidence.”

‘Freelancers Have Never Been Convinced’

The report seems to confirm that freelancers’ fears for their business success in a Brexit-threatened and post-Brexit economy, voiced in previous IPSE reports, were well-founded.

Professor Andrew Burke, Dean of Trinity Business School, Dublin, and Chair of the Centre for Research on Self-Employment, co-authored the report. He said: “Freelancers have never been convinced that the UK economy would avoid any major negative consequences from Brexit. That view is now held more widely than ever. Freelancers accurately predicted the slowdown of the economy in 2017, therefore their rapidly dwindling confidence in the UK economy over the next 12 months is somewhat alarming.

“The managerial, professional and technology-based freelancers in this survey are in a position to observe the early indicators of a slowing economy as they are typically contracted on projects involving business growth, innovation, technological change and entrepreneurship. They are clearly observing their business clients scaling down plans for firm growth and innovation. These findings are very concerning indeed.”

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