Out of Work IT Contractors
We give 10 alternative solutions to unemployment for out of work IT Contractors.
1. Take a Permie role. It will be difficult to reassure them that you won‘t take a contract when the market turns up.
2. Leave the Profession altogether and do something else, especially if you‘ve been hacked off for a while.
3. Do something that you‘ve wanted to do for a while if you had the time, e.g. writing that software or building that internet site you always wanted to build.
Sink Into Depression
4. Sink into Depression thinking that‘s all over for you and that your unemployment will last forever. As one of the out of work IT Contractors, you‘re too depressed to even look for work and you don‘t even bother. There‘s no point is there?
There will be pressure on your relationship and you may end up breaking up with your partner.
5. Buy lots of lottery tickets or work out a surefire system for winning on the horses.
6. Become a day trader on the Stock Market with your remaining savings. When that doesn‘t make money fast enough for you, start trading commodities and futures. 95% of people who do this are bust within 6 months.
However, you don‘t know that and you may be one of the 5%.
7. Set up your own software consultancy and look for local business. Joining the local Chamber of Commerce would help. Most people with small businesses don‘t understand how to get the best out of their companies.
There‘s a good market here but don‘t expect to charge your old contract rates.
8. Look for work abroad either on the internet or by going there. A wider net gives you more chance of success.
9. Set aside several hours a day every day, for calling agents and looking up the job sites etc. As one of the out of work IT Contractors, it will test your powers of endurance and it will be difficult to keep yourself convinced that something will turn up when you get day after day of rejections.
It‘s the best and only way to succeed.
10. Be proactive and start cold calling companies yourself. Most contractors, as opposed to agents, quit after a few rejections.
As one of the out of work IT Contractors, prepare yourself mentally for 100 cold call rejections in order to get one opportunity.
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If you do need an umbrella company you could try one of the following:-
For Mortgages specially designed for contractors try Specialist Contractor Mortgages.