My advice to you is to get a good couple/few years of experience under your belt before thinking about freelancing. As a junior designer you are there to learn your trade, so get to know the apps (PS, Illus, InD, and Quark minimum) so it becomes second nature, I would say that's imperative. Also, take time to build a good portfolio of work both inside and outside the working environment.
I started as a studio junior at 22 and though I didn't get to do much design there, I spent extra time working on my own stuff and learning the packages thoroughly which allowed me to move on to another job and so it goes on.
You can always earn extra money doing freelancing on top of your full-time job (though in theory you will have to let the tax man know) to build up your client base. This means that if you still feel in a few years you want to do it, you can call on a client base in addition to work placed for you by agencies.
So in answer to your question, it's great that you are thinking ahead but yes, I do think experience is the key should you decied to take the plunge.
Can anyone offer any advice on managing money when running a limited company?
I've made up my mind that it's the way forward for me but am unsure about the logistics of paying myself too little to actually live on month to month in advance of declared dividends.
Do people use money already saved or interest free overdrafts to cope with the shortfall etc? Any practical tips or advice from people running companies would be much appreciated.
Is this likely to be problematic when trying to obtain work?
I'm thinking of:
A) Companies that aren't VAT registered and don't therefore fancy the idea of paying an extra 17.5% (or whatever it is) for my services
Still looking into this sole trader v limited company and VAT registration.
I've just had a mail from someone who I will be doing work for and he says that his accounts department do not pay for work done unless they are registered for VAT.
If I'm VAT registered (despite earning under the threshold of compulsory VAT) does this mean I willl have to charge all my clients VAT?
