Summertime Slump: How To Deal With A Low Workload

Google reviews
June 22, 2018
n

As a contractor or freelancer, you’ll find that projects are often delayed in the summer due to clients going away or taking time out with the kids. Whilst it’s nice not to be overwhelmed by a high workload, a few quiet months can cause the money stream to stop. And that’s when panic starts to set in.

But a low workload doesn’t always have to be a negative thing. Here, we’ve listed three ways to deal with a summertime slump effectively.

Promote yourself

You may feel that you never have the time to advertise what you do. You probably have plans to define your brand, complete your website, attend networking events, and boost your social media profiles, but you’ve not been able to prioritise these tasks since making the move to self-employment.

Well, the summer is the time to do so. You can even think outside the box and find new ways to drum up work too. Self-promotion can be practised at a steady pace, and if all goes well, you may find your workload’s filling up before the summer’s even ended…

Take some time out

Without the standard holiday days there to take as an employee, you may think there’s no need for you to have a break. But even though working continuously helps towards ensuring there’s sufficient funds for a rainy day, it’ll likely affect your productivity and how positive you feel about your work.

The summer is a good time to take a breather, helping you feel refreshed and rejuvenated. Many of your clients will be on holiday themselves anyway, and won’t be in constant contact during the hotter months. It’s a particularly great idea to get away if you work from home, as this can prevent tunnel vision from setting in.

Ensure your finances are covered

With self-employed earnings being taxed later rather than instantly like employees on PAYE, your view of your financial situation can be warped if you’re unsure how much you owe Mr Taxman.

Whilst it’s better to have too much put aside for tax rather than too little, this doesn’t mean you can’t ever dip into your savings. You just need to make sure your tax is adjusted to real-time, which is easy enough when you have access to cloud accountancy software like FreeAgent.

Bright Ideas Contractor & Freelancer provides a monthly subscription to FreeAgent within all our simple packages, so you can reap the benefits. On top of this, you’ll have your own dedicated accountant and tax adviser to guide you on all things tax and accountancy related. To book a FREE consultation with our experts, contact us today on 0161 669 4221 or info@biaccountancy.com.

Summertime Slump How To Deal With A Low Workload

Resources

Recent Articles

Inheritance Tax at record levels, but Business Relief can help

Inheritance Tax at record levels, but Business Relief can help

Inheritance Tax (IHT) has reached a record level in the UK, with £7.5 billion flowing into Treasury coffers in 2023/24, up from £7.1 billion the previous tax year. One key reason for this growing tax take is rising property prices - the average house price in the UK...

Tipping Act Code of Practice to bring fairness to employees

Tipping Act Code of Practice to bring fairness to employees

Whenever you leave a tip in a restaurant or a hairdressing salon, for example, you would hope that the tip money you left will go directly to the person who provided you the service you are tipping for. But for many restaurants and other industries, that hasn’t always...

Everyone should check their tax code now

Everyone should check their tax code now

HMRC will provide new tax codes at the start of every new tax year if the Personal Allowance has changed, if someone has had a change of circumstances, including perhaps had a pay rise, and even to those who are taking their pensions for the first time. It’s important...

Ready to join us?

Whether you’re a contractor, freelancer, or small business, Bright Ideas can help remove the burden of time-consuming and complex finances. We’ll draw on our years of knowledge and experience earned helping sole traders just like you.

When you choose us, you’ll be assigned a dedicated Account Manager who’ll provide one-on-one support that’s customised to your business. Communication is key, so we’ll always answer your questions or requests as soon as we can. In fact, we offer a same-day response guarantee for emails and calls received before 3pm.

Contact us to get started

Give us a call us or send an email today!

Looking to switch accountants?
We make the transition simple.

Does your current accountant give 1-to-1 support? Are they fast and thorough?
Slap-dash services hold businesses back, so try our experts instead.

Move to an accountancy service that goes the extra mile…

Start the conversation

Let’s make your finances Brighter

Call us Monday to Friday 9am - 5pm

0161 669 4221

Request a call back