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Can I set up my own umbrella company?

Yes, of course you can. But keep in mind that setting up an umbrella company comes with a lot of work. We can’t give you a detailed how-to about how to set up your own umbrella company, but we can give you a few pieces of advice.

Apply for the appropriate business licences in your city, country or state and check with zoning offices if you want to conduct your business from your home. This is because there can be issues with operating a business from your location. Normally, an umbrella company is a work-at-home business without any real incoming clients or traffic. Most areas do not restrict this type of business, but you might need to have a license. After that, you should protect your company with general liability insurance. Once you have got that covered, it’s time to hire a lawyer to review your contracts and make sure that they are binding. After that, it’s wise to hire accountants so they can take care of the payroll and billing of your client’s customers.

Add some programming, website building and lead generation and you’re all set. Sounds pretty difficult, doesn’t it?

 

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