8 Summary of Week 7

This week you have focused on some of the more popular business structures that a freelancer might choose and considered their pros and cons. You’ve learned about the simplicity of becoming a sole trader and the potential benefits of a limited company if your earnings are growing. You’ve also considered the different charitable and social enterprise set-ups you could choose if relevant. Finally, you looked at other important considerations when setting up a business, including taxes, insurance, intellectual property and pricing.

You should now be able to:

• understand the range of formal structures available to you in setting up your business
• identify appropriate insurances and protections for your business or project idea
• approach practical issues, such as invoicing, with greater awareness.

Now that you’ve finished the content for this week, you might find it useful to revisit this week’s introductory video to listen again to the experiences and opinions of our freelance interviewees.

Next week, you’ll finish the course by pulling together your learning and planning some next steps.

You can now go to Week 8 [Tip: hold Ctrl and click a link to open it in a new tab. (Hide tip)] .