Would consulting work be better for a young parent?

Business consultants commonly operate in key areas such as HR, marketing, accounting or management. The role of the business consultant is to assist firms by evaluating working practices and employees and determining what a company’s weaknesses are. The business consultant should then provide recommendations and solutions that will help a firm to improve its output and develop.

There is flexibility involved with the working hours of a consultant. While it is common to be present during working hours to study, review and speak with employees and oversee the general level of activity within a company, a lot of work can be done away from the office. A business consultant will analyse a lot of figures and company information, and this is work that can be done at any time of day or night and from any location.

Given that a consultant only needs to be in the office at certain times, the role of a business consultant is one that can fit in with the schedule of a parent. After dropping children off at school, nursery or with a child-minder, the parent can spend a few hours in the workplace gaining an understanding of the company, its practices and its employees. After this, the consultant can collect their kids, spend time with them and then undertake more work at home in the evening.

 Consultancy work is flexible

The flexibility associated with the working practices of a consultant makes this role suitable for parents who require flexibility with respect to childcare and maintaining a work-life balance. In addition to the increased flexibility of working hours and location, there are other reasons why a young parent may decide that working as a consultant is best for them.

A lot of young professionals are attracted to the diversity of working with a broad range of firms. This helps to keep the role interesting, it allows a professional to make contacts for networking purposes, and it provides a broader range of experience. A young parent who is looking to develop their CV so as to find a stronger role when their children are in full-time education will find that consultancy work can open many doors.

Another strong reason for young parents to consider consultancy work relates to the financial perks. A consultant will pay less in taxes compared to a standard employee, and a contractor is able to deduct their expenses. This means that a consultant can have a higher level of take-home pay, and it is clear to see why young parents would appreciate additional income.

However, there are tax issues relating to being a freelance consultant. Many consultants find that in order to fully comply with regulations and avoid complications with HMRC, it is best to seek guidance from professionals, and this may come in the shape of using the services of an umbrella company. With tax regulations changing all the time, consultants need to ensure that they receive the best IR35 advice and obtain guidance on how to best operate their business.

In creating a suitable work-life balance, it is easy to see why young parents would be interested in consultancy work.

Photo credit: 089photoshootings

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