Self-Employment is considered to be a type of business where a small business enterprise or an individual offers its services to the government or a company that could be done by its employees in their premises. A research was done in California by Phillip Romero, Professor of Finance from University of Oregon. His results showed that Independent contractors highly affect the rate of economic growth and its strength.
For independent contractors to maintain that level and not to be seen as employees. Different rules have been set for them to follow. They should be capable of retaining mandate of work they are given.
This can be a success if the individual contractor is able to create a working time table. This so as every task is completed in time, overseeing payments and tasks of workers, renting working space. If this is agreed upon before the work can be done from the premises of the hiring company. If one has all the instructions and guidelines necessary to get the work done, not asking from the hiring company.
This guideline is important because it clearly shows the difference between independent contractors and employees. The employees are told exactly what to do and how to do it by their employers. This is not the case where independent contractors are concerned.
Profit and loss making is a sign used to show that contractors can operate independently. Small businesses and individuals should be able to show that they incur running costs for the business. This can be proved using receipts showing rent payment, internet service payment, pay slips, and receipts for buying machines and equipment. The contractor is able to know if they are likely to make a profit or loss when preparing the invoice.It's better to have an all-inclusive invoice at the end of the project that has total expenses, than daily billing to the hiring firm to avoid reducing the profit margin due to low charges.
Wider services provision is also vital. The independent contractors should not focus on marketing their services to an individual or one company. Intense marketing should be done by the contractors getting well designed business cards and letter heads, signing up in different professional organizations, getting a website, appearing in telephone and postal directories, attending trade exhibitions, cold calling of prospective clients and print advertising via newspaper, journals or magazines. The more customers independent contractors have the less their status is questioned.
It is very important to document using a written agreement to confirm that a firm is in agreement of doing business with the independent contractors. The agreement should indicate clearly that the services are being offered by an individual contractor. It also should note that no level of interference by the hiring firm should be experience with the major goal for both is to get the expected results. With great confidence the independent contractor should clarify that they are not there to perform their duties as employees.
Phillip Romero understands that the set barriers and plans to get rid of individual contractors would have a negative effect on economy of California. The percentage of registration of small and new companies is considered to be one of the highest in California. This is a factor that has increased employment in California.
For independent contractors to maintain that level and not to be seen as employees. Different rules have been set for them to follow. They should be capable of retaining mandate of work they are given.
This can be a success if the individual contractor is able to create a working time table. This so as every task is completed in time, overseeing payments and tasks of workers, renting working space. If this is agreed upon before the work can be done from the premises of the hiring company. If one has all the instructions and guidelines necessary to get the work done, not asking from the hiring company.
This guideline is important because it clearly shows the difference between independent contractors and employees. The employees are told exactly what to do and how to do it by their employers. This is not the case where independent contractors are concerned.
Profit and loss making is a sign used to show that contractors can operate independently. Small businesses and individuals should be able to show that they incur running costs for the business. This can be proved using receipts showing rent payment, internet service payment, pay slips, and receipts for buying machines and equipment. The contractor is able to know if they are likely to make a profit or loss when preparing the invoice.It's better to have an all-inclusive invoice at the end of the project that has total expenses, than daily billing to the hiring firm to avoid reducing the profit margin due to low charges.
Wider services provision is also vital. The independent contractors should not focus on marketing their services to an individual or one company. Intense marketing should be done by the contractors getting well designed business cards and letter heads, signing up in different professional organizations, getting a website, appearing in telephone and postal directories, attending trade exhibitions, cold calling of prospective clients and print advertising via newspaper, journals or magazines. The more customers independent contractors have the less their status is questioned.
It is very important to document using a written agreement to confirm that a firm is in agreement of doing business with the independent contractors. The agreement should indicate clearly that the services are being offered by an individual contractor. It also should note that no level of interference by the hiring firm should be experience with the major goal for both is to get the expected results. With great confidence the independent contractor should clarify that they are not there to perform their duties as employees.
Phillip Romero understands that the set barriers and plans to get rid of individual contractors would have a negative effect on economy of California. The percentage of registration of small and new companies is considered to be one of the highest in California. This is a factor that has increased employment in California.
About the Author:
The home page found at www.artimperativequest.com provides details about Phillip Romero. As a person of note in the art world, biographical information can be seen at http://www.artimperativequest.com now.
