There are many benefits of working as a freelancer, such as the ability to set your own hours and the lack of a commute to an office. At the same time, there are some issues to be aware of. While many new freelance writers worry about finding enough work, there are plenty of industries that pay well:
Blogging
Blogging in general is not a “niche” freelance job as every man, woman, child and even some dogs can create a blog and fill it out with content. However, the majority of us have a specialized subject upon which we can create content.
Personally, having been involved in the online gaming industry for more than a decade, I create content about how I like to play online bingo, sports betting and online casino games. I’ve worked for various sites, such as Butlers Bingo. Once you find what you are passionate and knowledgeable about the money is easier to find.
Travel
Over the years, I haven been approached to write travel related pieces while traveling to a variety of destinations. Unfortunately, snaring these types of roles does involve hard work and collecting the right contacts at the right times.
You will need to create a travel content portfolio comprised of your own travels. Upon doing so, you will have something to show potential clients.
Bookkeeping
Although accountants generally have this area taken care of, there is a niche market for freelancers to make money in bookkeeping roles. In addition to directly reaching out to clients in this industry, you have other options such as PeoplePerHour.com and Freelancer.com.
Note: this may not be related to writing, but it will give you the chance to earn money as your writing career takes off.
Programming
Although programming in general is not a niche role, the top programmers typically have an area in which they excel. If you can create written content then you may have the potential to create computer programs. There are many free online tutorials on getting started. From there, all it takes is a little bit of time and experience.
If writing is your passion, there are many industries to target. Along the way, don’t be afraid to branch out and earn money in other ways.
If you are looking to start a new business or expand an existing one, the question of how to raise sufficient funds is likely to be uppermost in your mind. In the course of running your business you might also need to fill a cash flow gap, replace equipment or simply manage your day-to-day expenses during a dip.
There are a number of options for arranging credit and finances. Business overdrafts can be very useful, especially for day-to-day expenses, but overdrafts may not offer enough funds, can be called in and can be very expensive, especially if you find yourself exceeding set limits.
A business loan is often a more suitable option for start ups, capital expenditure and other essential outgoings. There’s been talk about the levels of lending the major banks are willing to extend to SMEs in the UK. There are alternative lenders however, who specialise in business lending. These may be centred in particular geographical areas. Foundation East, for example, are specialists in providing business loans to help Chelmsford businesses and others in Eastern England.
Choosing the right loan for you will depend on a number of factors, including the nature and size of your business, whether you are a start-up and what you need the loan for. Whether you need to borrow £500 to buy essential equipment for a one-man enterprise or £100,000 to fund a major expansion, a business loan may be the ideal solution. There are a wide range of options available, allowing you to tailor your repayment plan over months or years. The longer you take to pay it back the more it will cost overall but you will also have to factor any loan repayments into your ongoing cash flow and business running costs.
It’s important to ensure that you can pay back the loan of course and you will usually need to provide both a solid business plan and an accurate cash flow forecast. Start ups often access mentors or coaches and some loan companies provide a range of business support services and advice, which can put you in touch with the appropriate experts.
Taking out a business loan can be seen as an investment. You will have to pay interest on the sum you borrow but a loan can provide an essential injection of funding, helping you to get your business off the ground, expand or get safely across a bumpy patch in the road.
