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Business, finance & legal

Business, finance and legal

Poor business skills are one of the main reasons people working in media get themselves into difficulties.

If you do some freelance work, operate a small business or production company, it's not enough to be good at what you do. You have to get organised and devise a system to keep track of your: finances; contracts and pay; VAT, tax and National Insurance; and copyright.

If you don't, you won't make ends meet and you could find that you have the Inland Revenue or Customs and Excise breathing down your neck.

Finding a system that works for you doesn't have to be a lonely struggle. With some advice and planning, you could make your life a lot easier. In this section you'll find basic business advice to help you, whether you're employed, have your own business, or do freelance work.


Sharpen your business skills

Mind your own business

Working as a freelancer or running a business demands a range of extra skills in addition to the skills, products and services you create or sell.

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Copyright

Protect your ideas by taking simple precautions

This is a complex area of law which can give rise to a lot of unnecessary disputes. However, if you take simple precautions from the start, you'll be able to protect your ideas.

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VAT

You need to check whether you should register for VAT

Registration forms are available from your local VAT office, and you may either complete these yourself or ask your accountant to do it.

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Tax

You need to check your tax status

Each type of employment has different implications for your rights, your tax status and the type of deductions you can make.

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National Insurance

If you don't already have a NI number, you must apply for one as soon as you start work.

As a general rule decisions on your National Insurance status ought to be consistent with decisions on your tax status.

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Pay

Rates of pay in the audio visual industries can vary a lot

Are you being paid the right rate?

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Starting a business? Check out NESTA's Creative Enterprise Toolkit

Image of Toolkit

NESTA's enterprise resource toolkit contains tried and tested methods for teaching enterprise skills to creative individuals who are thinking about setting up a business.

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Diary services

Diary services are a valuable resource, putting you forward for jobs when approached by companies, they will also organise your diary. Some specialise in placing freelancers.

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Running your business

In this section, you'll find information on looking after your company, fulfilling your responsibilities to the public and developing your projects.

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Business support links

Business support

Find here a list of the best organisations to check for help and advice for the business, finances or legal aspects of your career.

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