A career as a tradesperson can be a hugely rewarding one both personally and financially. However, before you make the decision to enter a trade, there are some important things you need to consider. Read on to find out what they are.
What trade you are best suited for
There is a wide range of trade careers to choose from including electrician, plumber, builder, carpenter, and mechanic. However, before you decide on a set trade, you need to think carefully about the one that will suit you best.
Perhaps you already have a clear interest in one of these subjects like carpentry, or vehicle mechanic? If not doing some research on what a typical day looks like, the kind of skills you will need, and the hours you will be expected to work is a very good idea.
Where you will study
The next consideration you will need to make is how you will learn your trade. Some people choose to do apprenticeships which allow them to work and receive a small wage, while also learning their crafts. Others choose options like this domestic electrical installation course which allows you to get qualified even if you are not currently working in the trade. Something that is perfect for those looking for a career change and those new to the field.
Whether you will work for yourself
Another thing to carefully consider before you begin a trade career is whether your ultimate aim is to work for yourself or for an established organisation. If it’s the former you will need to take care of many things such as registering for self-employment and filing your taxes each year. This means you will need to keep an accurate record of your expenses and income, and the government may choose to audit you.
You’ll also need to invest in your own equipment. Although most tradespeople just starting out can get away with a basic trade-specific tool kit, and then hire any specialist pieces of equipment they may need.
When you are working for yourself as a tradesperson you will also need to make sure you have the proper insurance coverage. This should include the following :
- Professional indemnity
- Public liability
- Employers liability insurance
Indeed, each type of insurance will help minimize the financial risk you may experience as a sole trader. For example, professional indemnity insurance will protect you against any advice that you give that results in a negative outcome.
Public liability insurance, on the other hand, will protect you as a tradesperson from the financial risk associated with an injury sustained on a customer’s property, as well as any damage to that property that may occur because of your work.
Employers liability insurance is all about protecting you from the financial risk you could incur if someone you employ is injured or passed away while they are working for you. Such compensation can in some cases run into millions, so investing in employers liability insurance as a tradesperson is well worth it.
