Job security is on most peoples' minds at the moment. The "will I, won't I" question niggling away at the back of their minds; will or won't I have a job next week? Lack of control is recognised and major factor in stress and the current uncertainty in many businesses and public bodies means that no employee can answer that question or exercise any control over it. For many people there are a number of reasons that stop them from going contracting. Most of them are rooted in fear. There is one simple way to take control of the "will I, won't I" dilemma - and that is to quit your current job. People come to contract work for a variety of reasons, some fire their employers out of sheer frustration - firing does work both ways - others find themselves 'occupationally challenged' or redundant as it is also known; while some simply take the very brave decision to give it a go. It is easy to assume that working for an employer is less risky - especially at the moment - but let's take some of those assumptions and just see if we can't turn them on their heads.

I prefer a regular pay cheque

A once a month payment of your salary is great. You have very little control over whether that will continue as the economy is not exactly burgeoning with the green shoots of recovery. Contract workers do have control over their income. If you don't have clients you don't have income, however as a contractors it is down to you to find them. Hard work and commitment pay off as contractor and you can build a strong client list - and expand or reduce this as required. In a regular job, hard work and commitment pay off in several ways - you might get to be "employee of the month" or you might get a bonus. The latter is rarer these days as organisations struggle to make ends meet, while if you are the sort of person that loves the former "accolade" you probably won't suit contract work. Contracting is about seeing real results for your hard work - usually financial - but also in terms of job satisfaction and self-esteem.

There is no freelance work at the moment

Quite the opposite; it is cheaper for an organisation to engage contractors than to have a permanent staff. In this economic climate many organisations are looking to reduce permanent staff and recruit contractors instead. It's difficult to rid yourself of an expensive payroll of permanent staff - not so with contractors. Using contract staff when the books are full, and reducing the number of them when they aren't is the ultimate in flexible staffing. From the contractor point of view, when one company lays people off, there is always another out there hiring. You'll also be able to demonstrate that you have contracting experience - valuable stuff. For contractors the recession is a bonanza.

Not for the faint hearted

Contract working is not for the faint hearted but is the most rewarding way of earning a living. You'll need to put in many hours of hard work and be thoroughly committed - but nobody but you will reap the rewards and the benefits of this way of working. Remember, contractors never seem to work in a job that they hate. Not all employees can say the same.

If you are looking to make self-employment or running a small business more straightforward, getting a contractor accountant can make all the difference. Before making the decision take advice and consider the best options for your circumstances and your business.