The role that women play in the freelancing and contracting community has been undervalued for some time. With a recent report confirming the fact that more working mothers are now choosing to become freelancers, we were delighted to see Victoria McDonnell’s recent article over on the Brookson blog celebrating the fact.
Dunedin backs secondary buyout from Livingbridge
1st June 2016
Dunedin, the UK mid-market private equity house, today announced that it has backed the buyout of Kingsbridge Risk Solutions (“Kingsbridge”), an insurance broker for contractors and corporates. The transaction, sees Livingbridge, the mid-market private equity firm that backed Kingsbridge in January 2014, fully exit the business.
This is Dunedin’s second investment in the financial services sector this year, following the buyout of Alpha Financial Markets Consulting in February 2016.
Founded by the current CEO Steve Wynne in 2001, Kingsbridge is the UK’s market-leading provider of insurance services that are tailored to meet the needs of contractors, freelancers and independent professionals, as well as the compliance requirements of partners including recruiters and accountants. Working alongside its strong partner network, Kingsbridge covers the broadest range of industry sectors in its market, including aerospace, banking and finance, rail, automotive, nuclear, oil and gas and information technology.
Becoming a contractor after being in permanent, full-time employment can be a daunting step to take, so the last thing you want is someone telling you that you might be doing it wrong. But so many new contractors make the same initial mistakes as each other that you can learn and (hopefully) avoid making them yourself.
At Kingsbridge, we speak to contractors all the time so we’ve pulled together some of the top mistakes they wish they hadn’t made when they were new to the game.
Our customers often ask us why they need a certain type of insurance cover, and we’ve always found that the best way to explain is by giving them examples. As you may already know, here at Kingsbridge we provide a single, easy to manage package of insurance containing all the cover a modern day contractor or freelancer needs (specifically Professional Indemnity, Public Liability, Employers’ Liability, Directors’ and Officers’ Liability, and Personal Accident cover). One of the most commonly claimed on parts of our policy is Professional Indemnity (also know as PI).
If you’ve been keeping half an eye on the back pages recently, you’ll know what happened at Old Trafford last weekend. To cap off an already abject season, Manchester United’s match against Bournemouth was called off just before kick-off due to the discovery of a ‘suspect package’ in the stadium. Unfortunately, said suspect package wasn’t the long-absent free-flowing, attacking football that the club are famous for, but rather a fake bomb mistakenly left behind and attached to wiring in the toilets after a terror exercise in the stadium the previous week.
At Kingsbridge, we often get asked certain questions time and time again. We don’t mind of course – that’s why we’re here. In fact, we thought it might be a good idea to put some of those questions up on the blog so you’ve always got the answers to hand when you need them.
Does the client not cover my insurances?
As you are not a permanent employee of the end client you would not be covered under their insurances unless specifically stated otherwise in your contract. If you make a mistake or damage something the end client is the most likely party to make a claim against you. In addition as a limited company you are your own entity and are not supposed to be under the supervision or control of the end client. Having your own insurance is a key IR35 indicator as it demonstrates you are a bonafide company and fiscally responsible for your own risk.
26th April saw the annual IPSE Policy Conference take shape on its greatest stage yet. Attended by luminaries from the worlds of politics and industry, as well as IPSE members and thought leaders from a variety of sectors, the conference was a great success. From David Cameron’s introductory speech to Small Business Minister Anna Soubry’s impassioned defence of the self-employed, it’s clear that the political heavy hitters are taking more notice of contractors and freelancers than they ever have before.
Julie Deane, author of February’s excellent, government-commissioned Self-Employment Review and founder of The Cambridge Satchel Company, also spoke, reiterating her views on how important the self-employed are to the economic landscape in the UK, and noting how freelancers contributed £109bn to the economy last year. You can read more about what happened on the day courtesy of IPSE here and Pulse Accounting here.
Kingsbridge were delighted to sponsor the post-conference Chairman’s dinner, hosted by Miles Jupp, at the Park Lane Hilton in London. The food, as expected, was wonderful, and it was great to celebrate the occasion with many of our existing partners. It was also an excellent opportunity for us to see some new faces and make some new connections in the contracting and freelancing industry. Much fun was had by all, as evidenced by the pictures below.
As a growing company, we’re always on the lookout for new staff. As fresh faces appear in the office we like to welcome them with a series of questions and some stark black and white photography. You can see all of us over on the Meet the Team section of our website, but we’d like to introduce you to three of our newer recruits below. We’ll continue this series on an irregular basis as the ranks at Kingsbridge HQ continue to grow. Without further ado, meet Jane, John, and Rob.
It’s one of the horrors of being a contractor: you do the work, submit your invoice, wait the required period and then no payment materialises. Often, a late payment can be an honest mistake but sometimes, sadly, clients or companies may hold out on you so you need to make sure you are protected. We’ve gathered our years of experience working with contractors to put together this guide on avoiding and dealing with late payments.
When you first move to become a contractor, the idea that you might be sitting there with nothing to do and no income is, quite frankly, terrifying. Of course, once you’ve been self-employed for a while, you’ll have word-of-mouth and referrals behind you, which will see offers of work coming directly to you. This blog, however, will give you some tips and ideas on how to find work as a new contractor, besides the more traditional job boards.
There are lots of apps out there that are useful to contractors and freelancers, helping you keep your workload, business admin and even mental health in check. However, the sheer number of them can be a little overwhelming so we’ve rounded up some of our favourites.