How to Start Your Own Freelance Writing Business

As we go through today’s recession and very difficult economy, more and more people want to know how to start a freelance business and start working on their own.  In order to get started on the right foot, follow these steps below.  You can be successful with this venture as many companies are looking for great writers.  Content is very important online.

Assess The Situation

Take a look at your education, skills and experience.  Make sure that your certifications are up to date.  You don’t want to get into a type of freelancing that you aren’t skilled for or that isn’t in regular demand.

Advertise Your Freelance Business

Register a fictitious business name with your county clerk then publish this in your local newspaper.  You should know that there is no difference between you and another business whenever it comes to your taxes and liabilities.  However, having a business entity will help you put forth a better image.

Open A Small Business Checking Account

Oftentimes you can open a free small business checking account at a local bank or credit union.  Many of them will also give you a low-cost credit card in your freelance business’ name too.  You should also start a small savings account in order to set money aside for your quarterly tax payments.

Accounting Software

Use your freelance business’ credit card to purchase a simple computer accounting program.  You will discover that the good ones are easy to use.  If your freelance business is going to be your main income source, then you will want to purchase an accounting software program that has been designed for a small business.  These will generate reports and match your expenses to your projects.  Your accountant, banker or another small business owner should be able to recommend such a program to you.

Paperwork Filing

Make sure that you have a basic filing system in place that will serve as a backup for your computer files.  Whenever you first start a freelance business this can be a really simple system with folders for bank statements, credit card bills, your freelance business documents, etc.  A portable filing box will work great for storage of these items since you can then just label them and take them to your accountant whenever tax time rolls around.

Last, if you want to be a freelancer, I highly recommend you find out how to start a blog to showcase your talents but also make a little money on the side.  A professional blog can be a great marketing tool and can bring in unexpected clients and companies looking for writers and bloggers alike through search engine traffic.