When you are new to contracting you will soon realise it is not like any other work, the benefits far outweigh any of the bad and the lifestyle can be great, here are some of the things you will have to face and deal with as a contractor:

• You must negotiate with agencies and not be exploited


• The market can become competitive during hard times


• Be prepared to work hard for a contract and spend time getting the right work


• Security Clearance can be required on some contracts and can be a long process (see our vetting options)


• Check every aspect of the contract, including restriction clauses and overtime rates


• Time should be taken when deciding how to operate, you are generally not allowed to be a sole trader, so a solution will be required


• Solutions and running a limited company can be complex but do offer great rewards


• Building relationships with your agencies and clients can help secure future contracts


• Remember to check legislation such as IR35, if you are unsure take advantage of advice available to you


• Timesheets and invoicing should be prompt to ensure early payment


• Expenses should be retained and held on records, they are important and needed for your benefit


• Delays in payment form your first months work can occur, so ensure you have cash flow to pay the bills, the rewards will eventually come


• Make sure you get the right rate for your skills


• Prepare for interviews, make sure you sell yourself you are now the product