Could freelancing be the right path for you?

Imagine dreaming of being your own boss while showcasing your unique talents—with plenty of variety and flexibility. In short, you want a job with some excitement! In that case, becoming a freelance professional might just be the path for you. Discover what’s involved and make an informed choice.

What is a freelancer?

A freelancer is a self-employed professional who earns a living by working independently, without any employees. As a freelancer, you’re your own boss and take on temporary projects for one or more clients. Legally, you’re considered a supplier providing services for which you issue invoices.

These services are where your talents shine. For instance, a copywriter might conduct interviews with satisfied customers for a company, or a photographer could provide images for a city magazine. In principle, nearly any profession can be practiced on a freelance basis.

Major advantage

One major advantage of freelancing is that it offers a dynamic, varied role, as well as the flexibility that’s crucial in this line of work. Flexibility is, in fact, a plus point, as many companies need agile professionals who can adapt quickly in today’s fast-paced economy. This often leads them to choose freelance talent.

Be aware, however, that you’ll sometimes jump from one project to another. Certain projects may occupy your schedule for an extended period, while others might only take a few hours each week. Your projects will often overlap; some clients will return, while others may only need your help on a one-time basis.

Where you work also depends on your clients. For some assignments, you can roll out of bed, brew coffee, and get started at your kitchen table. For others, you may need to be on-site at the client’s office. In that case, don’t forget to brush your teeth! 😉

Becoming a freelancer: pros and cons

Starting a freelance career is a major decision! Here’s an overview of the advantages and disadvantages.

Advantages:

As a freelancer, you’re in full control of your career path, allowing you to choose the direction you want to pursue. You gain variety and the freedom to decide which projects to take on, where and when you work, and how you balance work and personal life—it’s all up to you.

Freelancers get to showcase and monetize their talents, turning passion into income. While the job can sometimes be hectic and stressful, doing what you enjoy brings fulfillment and energy.

You provide services to businesses or clients, who become your clients rather than your employers. This means you negotiate compensation and terms on an equal level without the hierarchy of traditional employment.

You determine your hourly rate and what you want to earn per project. With success, freelancing can sometimes be more lucrative than a salaried position. Include your rates in your business plan, as this plan maps out your path to growth.

Disadvantages:

Employees working under an employer receive additional benefits like paid leave, vacation pay, end-of-year bonuses, guaranteed sick pay, certain insurances, and the employer covers their social security contributions.

Freelancers don’t receive these benefits. Self-employed professionals must pay their own social contributions. If you take time off, you won’t earn during that period. Another downside is that statutory pensions for freelancers tend to be lower.

When one project ends, do you have another lined up? Starting as a freelancer means finding clients and projects on your own. This lack of job security can be a barrier for some.

Freelancing requires handling your own administration, bookkeeping, and staying on top of tax and VAT obligations. Many freelancers find it beneficial to hire a reliable accounting firm, which, of course, incurs additional costs.

What do you need to become a freelancer?

Thinking, “I want to become a freelancer”? Great! Here are four essential steps you need to take to officially launch your freelance career. Keep in mind there are various startup costs involved.

To-do 1: choose full-time or part-time freelancing

Are you ready to commit fully and work 100% independently? Then you’ll be a full-time freelancer. Read more on this website about what you need to know regarding the social security status that comes with full-time freelancing.

Alternatively, you can start as a part-time freelancer. In this case, you’re not entirely independent but remain employed by an employer, providing you with a steady income to fall back on. We cover all the details of starting part-time freelancing in another blog post.

To-do 2: choosing the right business structure

Under which form of business you operate your own business, is very important. Because that choice determines, among other things, what kind of accounts you have to keep, what taxes you pay and what kind of liability applies to you.

As a freelancer, you typically have two primary options:

• Sole proprietorship
• Corporation

Starting a sole proprietorship means operating as an individual. In this case, there’s no clear separation between your personal assets and those of your business. This means you are personally liable for any business-related risks, including potential debts. This is an important aspect to consider.

If you want a business with legal personality, you’ll look into forming a corporation. This type of business is legally independent and possesses its own rights, responsibilities, and, importantly, its own assets, separate from those of the business owners. This separation generally means that any debts incurred by the corporation do not impact the private assets of its shareholders.

There are different types of corporate structures, such as a private limited company (bv), a public limited company (nv), and a general partnership (vof), among others. For more details, visit the Xerius social insurance fund website.

To-do 3: register your business name

You can’t start freelancing without a business name. This name must be registered with the Crossroads Bank for Enterprises. Many freelancers use their first and last name as their business name, which is often sufficient.

Don't see the point? Want a more original approach? Then there is nothing to stop you coming up with your own company name. Keep in mind the online part of your business. Having your own website or webshop is a big must. As a freelancer, it is a perfect business card to present yourself to new clients.

So think carefully about the domain name (anything after the www in the address bar) that goes with your business name. If you need some help with that, you can use our company name generator, designed to create unique names.

Tell us what your company stands for, select the desired language and experiment with style and type. Afterwards, our AI tool generates company names in line with what you asked for. That way, you'll get a jump start on finding the perfect company name. You get all kinds of unique suggestions. With the icing on the cake: you immediately see whether the corresponding domain name is still available.

To-do 4: organize legal administration

• Obtain a business number by registering with the Crossroads Bank for Enterprises (KBO). To do this, you’ll first need to register at an authorized business counter.
• Get a VAT number by activating your business number as a VAT number.
• Arrange mandatory and supplemental insurances such as liability and disability coverage.
• Notify your health insurance fund about your switch from employee to self-employed freelancer.
• Check for necessary licenses and permits depending on your field of work.
• Open a (Business) bank account.
• Join a social insurance fund to ensure you’re covered for social security. This website will help you get started.
• Collaborate with an accountant and invest in bookkeeping software to streamline your financial administration.

Starting as a freelancer: from taxes to VAT

Once you’ve completed all legal and administrative steps, it’s time to focus on some other critical aspects of freelancing, like VAT, taxes, and social security.

VAT

If you have a sole proprietorship, you’ll generally be subject to VAT. As a self-employed professional, you’re responsible for paying VAT, but you can deduct the VAT you’ve paid on business expenses from the VAT you charge your clients (known as VAT deduction).

To pay VAT, you’ll need to file a VAT return. You’ll then remit the difference between the VAT collected from clients and the VAT you paid on business expenses to the tax authorities.

Taxes

If you own a sole proprietorship, you file a tax return every year through our personal income tax. You have to pay taxes on your net professional income.

This is the sum remaining after offsetting your professional income minus your professional expenses (deductible expenses). If you use a sole proprietorship to carry out your secondary profession, your wages as an employee and the income from your independent secondary profession are added together. In some cases, you will then find yourself in a higher taxable bracket ...

As a self-employed person, you will have to pay certain additional taxes. Think municipal tax, environmental tax ... Fortunately, you also enjoy some tax breaks.

Social security

As a freelancer, you’re responsible for managing your own social security. This covers building up your pension, and ensuring access to benefits for sickness and disability. You’ll need to pay social contributions to enjoy these rights and benefits.

If you’re a full-time freelancer, you’re required to pay a minimum quarterly contribution to maintain your insurance coverage. Part-time freelancers have different requirements. Only full-time freelancers and retirees are eligible to request a social contribution exemption—a benefit not extended to part-time freelancers.

Starting as a freelancer: from rates to finding clients

What should you charge your clients? And where do you find those clients?

Setting your hourly rate:

Developing a solid pricing strategy is crucial as a freelancer. Here are five tips to help you set the right rate:

1. Determine your value

• Set a rate that reflects your experience level.
• Avoid pricing too low, as it can imply lower quality.
• Build your value by gaining experience and references over time.

2. Calculate your target day rate

• Define how much you want to earn net per year.
• Double this amount to estimate your gross income, factoring in expenses like rent, insurance, and travel.
• Use a gross-to-net calculator to estimate the rate you’ll need to charge.

3. Compare your rates to competitors

• Check rates on sites like freelancenetwork.be.
• Use average rates as a reference, but focus on what value you’re offering for that price.

4. Fixed rate or project-based pricing?

• Choose between a fixed hourly rate or a per-project price, depending on factors like complexity, client type, deadlines, project size, and strategic importance.

Find customers

Becoming a freelance consultant, journalist, or IT professional is within reach! Begin by identifying what you’re good at and where you’d like to earn your income. Once that’s clear, you’re ready to get started. However, as a freelancer, securing clients is essential for building a steady workflow.

As a freelancer, job security depends on your ability to market yourself and develop a bit of commercial savvy. Here are some key ways to find clients and build your freelance business:

• Create a professional website: Showcase your services and portfolio clearly.
• Engage on social media and freelance platforms: Increase visibility by being active on platforms where potential clients might find you.
• Publish your own content: Share blogs, tips, and case studies to demonstrate your expertise and build credibility.

• Attend events and meetups: Make personal connections at conferences and networking events.
• Join online communities: Engage in discussions, offer your insights, and share your knowledge.
• Use LinkedIn strategically: Connect with potential clients and partners for collaboration opportunities.

• Let your work speak for itself: Ensure clear communication and top-quality output with each client.
• Ask for reviews and testimonials: Request satisfied clients to share recommendations on your website or social media.
• Stay in touch with past clients: Offer discounts or deals for recurring projects to maintain strong client relationships.

These steps will set you up for a successful freelancing journey, making it easier to find new clients and build a reliable stream of projects.

Frequently asked questions about becoming a freelancer