Contracting - go for higher rate or repeated business?

[diseasex]

Hi, i'm relatively new to contracting and now considering few options what's next.
I'm Manchester based where rates are fairly low (300-400pd) in my area (.net dev) . However i'm currently with a client that will surely use my skills again in the future.
Previously I was thinking i'd go for London and hunt for 400-700 rates, but there's that option where i would continue picking contracts with smaller companies, as the current one, and aim for getting more repeated business and possibly aim hire people to help if there was enough work
How achievable is that , anyone's got some experience?
Thanks

[PerfectStorm]

I wonder what the expectation might be on 700. No slacking!

[diseasex]

I wonder what the expectation might be on 700. No slacking!

well something to aim for over time

[northernladuk]

What do YOU want to do? You went Contracting to be in charge of your own destiny.

P. S. Chasing rates in London won't really be much of an option after April.
P. P. S. I'd also say contracting will be a long career and not just the here and now but that's also not going to be true after Apr 16 and 17

[diseasex]

What do YOU want to do? You went Contracting to be in charge of your own destiny.

At this stage i need to know more. Chasing rates is the low risk one out of two and that was plan A. But I'm sitting at the client now, thinking "hey, why wouldn't I get more clients like this and have software consultancy?". I'm not experienced enough (In contracting) to see if that would work though. And would require proper selection of contracts

P. S. Chasing rates in London won't really be much of an option after Apr.

nothing will change except the way we draw (or not) funds?

[stek]

Hi, i'm relatively new to contracting and now considering few options what's next.
I'm Manchester based where rates are fairly low (300-400pd) in my area (.net dev) . However i'm currently with a client that will surely use my skills again in the future.
Previously I was thinking i'd go for London and hunt for 400-700 rates, but there's that option where i would continue picking contracts with smaller companies, as the current one, and aim for getting more repeated business and possibly aim hire people to help if there was enough work
How achievable is that , anyone's got some experience?
Thanks

What's your skill set?

[diseasex]

What's your skill set?

pretty broad microsoft stack , various JS frameworks, multiple other languages, databases etc. Both front and back end, web and desktop over about 10 years.
My apps are also quite good, compared to competitions code i keep seeing and having to fix here and there..

[SueEllen]

nothing will change except the way we draw (or not) funds?

You have to pay the T&S after tax.

As most of us take dividends and a low salary for a variety of reasons, this will draw you into the higher tax bracket.

Also you clearly aren't aware of how expensive housing is in London and much of the SE. To rent a room in a decent area costs the same or more than renting a house in the North. Hence rates are higher to offset that.

[ShandyDrinker]

pretty broad microsoft stack , various JS frameworks, multiple other languages, databases etc. Both front and back end, web and desktop over about 10 years.
My apps are also quite good, compared to competitions code i keep seeing and having to fix here and there..

Typical developer response. Show me a developer who doesn't say I could do it much better blah blah blah.

On a more serious note the other responses about costs of accommodation in London are all valid. For £700 per day expect to have little life as the client will want their pound of flesh and more. If you get the opportunity I would recommend doing it for a while as what you can learn in those contracts is priceless.

Longer term building a local client base will probably serve you best, particularly if the T&S changes see the light of day in April 2016, which they are likely to do...

[BolshieBastard]

Typical developer response. Show me a developer who doesn't say I could do it much better blah blah blah.

Yep. And they all say there's no bugs in my code yet I keep finding tuliploads. oh well!

On a more serious note the other responses about costs of accommodation in London are all valid. For £700 per day expect to have little life as the client will want their pound of flesh and more. If you get the opportunity I would recommend doing it for a while as what you can learn in those contracts is priceless.

Longer term building a local client base will probably serve you best, particularly if the T&S changes see the light of day in April 2016, which they are likely to do...