Thinking about quitting your job in the New Year? You're not the only one. A recent study by Crunch Accounting found that 32% of the UK's workforce are considering moving onto pastures new in 2017. The main reasons given for wanting to quit included working with a bad boss, lack of career progression, and miserable pay.
Making such a decision as to quit your job isn't one that comes lightly. The research also found that two thirds of employees consider handing in their notice for six months and 32% admit that quitting their job has been on the table for 12 months or more.
If you're one of the thousands across the country pondering whether now is the on the edge about whether now is a good time to quit your job, consider these facts.
1. Self-employment is trending
According to the Office of National Statistics there are over 4.7 million self-employed people in the U.K - which amounts to 15% of the working population. This is an increase of over 129,000 people now labelling themselves as self-employed compared to a year earlier. Freelancing isn't a fad and is a growing, stable economy.
2. Freelancers earn more cash
A survey of 23,000 freelancers across the world found that on average, this brand of self-employed people bring home more bacon than their employee counterparts. According to the data, freelancers take home an average salary of just over £31,000 for 36 hours work - leaving employees trailing slightly behind when it comes to the amount of money made pre-tax.
Whilst earning more money is fine and dandy, it's worth mentioning that freelancers lack employee benefits such as holiday allowance and sick pay. Both of these have to come out of a freelancer's own pocket, which is why budgeting and knowing your cash flow is imperative to making it as a successful freelancer.
3. Freelancers are happier
Not only do freelancers earn more money, but they're also happier. A study by the Association of Independent Professionals and the Self Employed (IPSE) found that 86% of almost 900 freelancers are "very satisfied" with the way they work.
This could be down to the fact that freelancers enjoy a greater level of freedom and flexibility over their working hours, have the ability to take holiday as and when they like, and don't have a gaggle of work colleagues or bosses to answer to.
4. Technology means (almost) anyone can freelance
The rise of tech and on-demand services means almost anyone can become self-employed. Powered by smart apps and tech, this wave of self-employment is empowering many to leave the humdrum of the 9-5 and choose working hours that suit them.
Accessing the job market has also never been simpler. There are a range of websites dedicated to finding creative freelancers work - Elevate, Contently, Upwork, LocalSolo, YunoJuno to name but a few.
5. Tax is becoming simpler
Self Assessment might not sound like the most appealing part of a freelancer's lifestyle, but tax is becoming simpler. With cloud-based technology being utilised by many firms, accounting is more accessible and help closer at hand. Coupled with the Government's plans for "Making Tax Digital", there has never been a better time to consider going freelance when it comes down to tax.
Ultimately, there will never be a perfect moment to quit your job. Unless you land a huge freelance contract whilst you're still employed, chances are you're better off looking for a good moment rather than the perfect one. So what are you waiting for?Suggest a correction