Running a freelance writing business

This branch covers managing the business behind a freelance medical-writing practice. It divides by business responsibility: direction, market awareness, administration, earnings, tax, IT, working location, delegation, growth and personal financial provision. Setting up the practice, client relationships, pricing and agreements, project delivery and working health belong to neighbouring branches.

• Working on the business as well as in it — owner responsibilities, business skills, planning, the business environment and a sustainable practice
• The freelance market and what a practice competes on — surveyed practices, services, clients, opportunities, competition and slow periods
• The routine and the systems the admin runs on — weekly administration, bookkeeping, time records, software, templates, job numbers and client email accounts
• What the practice earns and what the year's records show — gross and net earnings, targets, costs, effective hourly earnings, reviews and milestones
• Tax and social security for a freelance practice — jurisdiction, taxes and levies, reporting, deductions, contributions and professional support
• The practice's machines, software and data — equipment and software maintenance, document security and recovery, and personal-data protection
• Working away from a fixed base — commitments at home, arrangements with accountants and clients, practical needs abroad and travel’s effect on capacity
• Delegating and subcontracting the work — emergency cover, tasks, capacity, margins, subcontractor selection, agreements, supervision and client consent
• Growing a freelance practice into a company — readiness, first employees, quality, the founder’s role, systems, finances, scale and ethos
• The personal finances the business is meant to fund — financial planning, benefits, emergency savings, retirement income, saving and succession