How to become a self-employed management consultant

If you are a problem solver and can develop a strong strategy, you might want to become a self-employed management consultant.

Management consultants are employed to help organisations develop solutions to any issues they have and to ultimately maximise growth and improve overall business performance.

Making the move from permanent to contracting can be an overwhelming task, without the burden of managing your taxes on top. However, with an expert accountant working with you, things can be much easier. Our qualified accountants can work with you to ensure that you never miss a deadline and are always on top of your business and personal taxation affairs. Call us on 020 7481 4743 to find out more about how we can help.

In the following paragraphs we will cover:

  • The benefits of contracting
  • Finding work
  • Why you need a good accountant

The benefits of contracting

Once you have obtained the necessary skills and experience, contracting as a self-employed management consultant should be a particularly attractive proposition for you.

There are a number of benefits to the life of a contractor and we have covered the key points below:

  • You can chose where an when you work
  • No set holiday allowance
  • You have clients, not bosses
  • The tax saving benefits of working through a limited company are lucrative
  • Your work can take you around the world
  • Business expenses can be offset against your tax bill
  • You’ll be able to work across a range of industries

These are just some of the key benefits of leaving behind the life of permanent employment and choosing to become a contractor. For a more comprehensive list, read our guide on the benefits of becoming a contractor.

Finding work

We have put together a few useful hints and tips to help you in your search for work as a management consultant. Don’t worry if you haven’t actively searched for contract work before, these are all things that you should be able to do with relative ease.

Speak with recruitment agencies

Recruitment agencies have a wealth of contract roles and they should be your first port of call when you are searching for work.

Once you have had a look on a few recruitment websites and created a shortlist of roles that you would like to apply for, all you need to do is email your CV and a covering letter to the recruiter.

If you can find the details of the person in charge of recruiting for each position you apply to, there is no harm in giving them a call to introduce yourself and let them know that you have applied. Bear in mind that thousands of CVs will hit a recruiter’s desk each week, so anything you can do to stand out from the crowed is well worth doing.

Develop a comprehensive contractor CV

You’ll be searching for work more regularly as a contractor compared to when you were a permanent employee, so it is vital that you develop a strong CV that appropriately sells you and your skills.

Contractor CVs are slightly different to the ones that you would have produced before. They tend to be more factual and far greater emphasis is placed on your skills rather than you wanting to be part of an organisation long term.

As a management consultant, you won’t be working in isolation, so it is important to include something on your CV about your ability to work well with others and integrate into new teams quickly and easily.

To give yourself the best chance of being invited for an interview, think about editing your CV for each role.

Don’t ignore your existing contacts 

The popular saying of “its not what you know, its who you know” rings true when it comes to finding that next contract. If you have a wealth of useful contacts, make sure you make the most of them! Send out an email to people who you think might be able to put you in touch with companies that could benefit from your services.

Why you need a good accountant

A good accountant can help you with all aspects of business and personal taxation. They’ll be able to advise you on how to work in the most tax efficient way possible and ultimately save you time so that you can focus your efforts on the day to day demands of contracting.

For just £55 per month, you will receive the following:

  • Annual accounts submission
  • Management information
  • Corporation tax calculations and submissions
  • Monthly payroll and RTI returns
  • Quarterly VAT returns
  • Annual returns for Companies House
  • Personal tax return for the director
  • Manage your finances online with Free Agent

All of our accountants are fully qualified, so rest assured that you are in safe hands, to find out more, call our experts on 020 7481 4743.