self-employment, Flexible staff pools, Nurses
Finding work as a self-employed nurse: Everything you need to consider.
Flexible nursing work when and where you want it — sounds like a dream, right? It doesn’t have to be.
Becoming a self-employed nurse is an exciting move. Not only does it allow you to work on your own schedule, but you get to choose your shifts and focus on what you’re most passionate about. Given the current developments in health and social care, more nurses than ever are exploring self-employment.
But that doesn’t mean it’s always easy to navigate some of the complexities of self-employment.
While you should always consult experts like accountants and your local ICB, this guide aims to walk you through all the questions you need to consider when looking to become self-employed.
1. Setting up your business
As a registered nurse, nursing associate or midwife you need to make sure you’re compliant with the relevant business regulations. For example, if your role is overseen by the CQC (Care Quality Commission), you need to meet their standards.
If you’re practising under the NMC (Nursing and Midwifery Council), you should have adequate indemnity cover to protect you against potential claims related to your practice. Talk to an insurance provider to see what’s right for you.
2. Finances
There are many things to consider from a financial perspective when venturing into self-employment. You’ll need to:
- Register with HMRC as self-employed, including information such as your National Insurance number, business name and contact details
- Consider opening a separate business account to help manage your finances, which will come in handy when filing an annual self-assessment tax return
- Look into hiring an accountant if you’d like additional support in streamlining your administrative workload, from preparing tax returns to giving advice on your finances
The number one piece of advice our co-founder, Dr Ishani Patel, recommends to all self-employed medical professionals with questions about their finance is to find a financial advisor and an accountant to answer your questions.
3. How to find work as a self-employed nurse
Finding consistent work as a self-employed nurse involves a bit of thought and strategic planning, but with the right approach it can be very successful.
Start by reaching out to your local Integrated Care Board (ICB). They might have a flexible staffing pool that you can join, offering a reliable stream of work with practices local to you.
A strong professional network can also help. Attend healthcare conferences, workshops and local events to meet fellow professionals and learn about new opportunities. Join nursing associations and online groups to help you stay updated on industry trends and job openings.
4. The benefits of self-employment
One of the biggest perks of being a self-employed nurse is the flexibility it offers. You get the opportunity to set your own hours and create a work schedule that fits your life and family commitments. You also have the freedom to follow your passion, meaning you can do what you want, when you want to.
It can be financially rewarding, with sources stating that self-employed nurses earn on average 80% more than those in traditional agencies, and 103% more than traditionally employed.
Plus, you have the opportunity to take advantage of various tax deductions and business expenses that can help maximise your income — speak to an accountant to see what you might be eligible for.
Challenges and opportunities for flexible nursing work
Venturing into self-employment can be both exciting and challenging. No matter what, challlenges also provide valuable opportunities for personal and professional growth:
- Taking charge of your finances may seem like a daunting task, but it allows you to optimise your earnings and make more informed decisions.
- Securing work across new practices offers you the chance to create meaningful relationships and establish a reputation in your local healthcare community, which can lead to more rewarding opportunities
- Knowing where to start takes time, but once you’ve established your own goals and interests you can focus on areas you’re truly passionate about and take charge of your own career path.
Becoming a self-employed nurse is not only a great chance to shape your professional life on your own terms, but also create a better work-life balance.
Consider taking advantage of resources available from your ICB, such as their flexible staff pools, to help you find consistent work whilst still allowing you to maintain the freedom that self-employment provides.
Want to learn more about finding flexible nursing work with Lantum?
Email customersucess@lantum.com and we would be happy to advise on opportunities for work within your ICB.
