Monday, 26 April 2010

Lecture notes - Steve Gordon (careers advisor)

Today we had a lecture with Steve Gordon about Freelancing. careers service - guidance. available for 2 years after graduation.

Freelancing - is it right for me?

Qualities required
  • Ability to cope with uncertainty e.g sickness and holiday periods not allowed for
  • Being self motivated
  • Superior networking skills
  • Self marketing skills
  • Belief
  • Self Discipline
  • Energy
What do you need?
  • money! how much?
  • essential equipment - materials, tools, software
  • Premises
  • Transport
  • add them all up and work out how much I need to earn
Freelancing option - Sole Trader
  • simplest structure. No registration costs etc.
  • Register as self employed with HMRC
  • Personally liable for any debts
  • All profits to you
  • Also need to need to pay fixed rate class 2 and 4 national insurance contributions on profits
  • Self assessment tax return
  • VAT - if turnover over £64000 <--- i wish!
Record Keeping
  • need to keep a record of all transactions incoming and outgoing to satisfy inland revenue - materials, business costs
  • Invoices and reciepts need to be kept
  • date, reference, who, how much and what <-- keep organised!
  • make sure all reciepts and transactions match spreadsheet - make spreadsheet to keep organised.
    (see example below)
  • Bank statements - need to keep for 5 years - evidence of payments.

(this is an example of how to keep records. not illustration related, but same structure.)


A contract protects you if things go wrong. Essentials:
  • Fees - what you are paid for? how much?
  • How is the contract evaluated at the end of the project?
  • Obligations of employer
  • Copyright issues - who owns it?
  • Expenses, payment and invoicing
  • other considerations: legal, health and safety, illness, disputes, timescales, insurance
  • contract details
  • terms of service
  • deadlines
  • signed by both parties
good links:

Getting Work
  • agents take % of fee - find you work
  • AOI sell lists of editorial clients
  • Online agency search. e.g Advocate Art
  • websites - - offer lists of publications to pitch for
Pricing Will it pay?
  • Sales estimate
  • Cost estimate
  • Setting up costs
  • Ongoing costs
  • Direct costs
  • Wholesale good bought
  • Indirect costs
  • Insurance, rent etc


here is an example of a good invoice:

good website to look at --> thedesigntrust

1 comment:

  1. Wowser - glad I came across this post! I shall be book-marking it for when I make the leap. Very useful info thank you!