Employees who are considering going freelance should make the decision after extensive research and consideration, according to Freelancers in the UK.
Above all else, people should ensure that they have "a cushion of funds" in order to account for the short-term shortfall in salary.
While self-employment can be daunting, company directors of SMEs can benefit from a "great deal of help, support and encouragement within freelance communities", Freelancers in the UK added.
According to the Office for National Statistics, self-employment statistics indicate a growth level of over 8.9 per cent in the last 24 months.
In the last 24 months, nearly half a million new business start-ups were registered at Companies House and within the last twelve months, more than 100,000 people opted for self-employment.
In addition, there are now more than 1.2 billion internet users worldwide (as of September 2007), demonstrating a 244.7 per cent increase over the last seven years.
Katie Kirk, co-founder of Freelancers in the UK, said: "Freelancing is, by its nature, a style of working that doesnt guarantee consistent work and therefore regular income.
"Whether your motivation is financial gain, personal fulfilment or the chance to try something new, freelancing offers opportunities you simply wont find in conventional full-time employment."
See copyright notice
Top Business News Stories