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Contractor Management

Have you got what it takes to set up a business?

By 16 January 2023No Comments

There are a couple of approaches you can take when setting up a business. A business owner may not wish to change their structure and approach to business and may stick to using traditional knowledge and skills.

Entrepreneurs on the other hand will look to continue to grow a business, be responsive to opportunities, and take a creative and visionary approach.a

The National Centre for Entrepreneurship in Education (NCEE) advises that a range of skills are needed in order to be a successful business owner. These include:a
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aaaaaaaa• an ability to network;
aaaaaaaa• confidence to take ownership of projects/developments;
aaaaaaaa• initiative;
aaaaaaaa• good persuasion and negotiation skills;
aaaaaaaa• focused to set and achieve goals;
aaaaaaaa• strong decision making skills;
aaaaaaaa• an ability to work quickly under pressure;
aaaaaaaa• confidence to take risks when necessary;
aaaaaaaa• an ability to work independently.

Which sectors attract the most self-employed graduates?
A recent survey that asked graduates what they were doing six months after graduation found that more than three quarters of graduates working as musicians were self-employed/freelance. It also revealed that more than half of those working as artists and more than a third working as textile designers were self-employed.
The most common sectors include media and journalism, art and design, IT, sports and fitness and banking and finance. Graduates from disciplines such as the performing arts, media production and art and design should prepare for periods of self-employment, if not for the entirety of their careers at least for some time before securing an in-house position.
When it comes to the arts, there is a high number of freelance workers but they are often competing with each other for fewer contracts and aren’t aware of the ‘hidden jobs market’ which is taking over advertisements in being the most popular way of freelancers finding work.
Recent arts graduates may find this new way of entering the industry tricky as it relies on networking to tap into this ‘hidden market’. If you’re not already part of your relevant networks, geographically and thematically, formal and informal, then you need to become so: this is the source of the huge “hidden jobs market”.

We can help you run your business by managing your back office and staff. For further information please don’t hesitate to contact us, book an appointment or reach us at [email protected] or 02 9407 8700 where one of our Australian team members will gladly help you.

Information is sourced from the Prospects and the National Centre for Entrepreneurship in Education websites


Pendragon Team