On June 24, 2022, I spoke at the 5th International Virtual Conference organized by Linguist Education Online (LEO). This event’s theme was “United We Grow” and I had the opportunity to speak about how us, language professionals, are a company of one. Here are some of the questions asked during the live presentation:
What options do freelancers have when establishing their own business?
It will greatly depend on your location, since the alternatives and processes available to independent contractors may vary at the federal, state, and local levels. In the United States, there are different ways your can start a business to provide professional services, including the following: sole proprietorship, partnership, limited liability company (LLC), and small corporation (S-corp). It is well worth it to look for the assistance of a Certified Public Accountant (CPA) and a legal professional (paralegal or attorney) when making a decision about your ideal legal structure, filing for a fictitious name (also known as DBA, or “doing business as” X company name), and obtaining a Tax Identification Number (TIN) so as to not use your own Social Security Number (SSN) for business purposes. These are the steps you will be taking in order to structure your business correctly, according to your own circumstances and location, and file your taxes both as a company and as an individual. Here are some websites that can help you with additional resources:
How can I pay Social Security as an independent contractor?
It is best to talk to a CPA or financial planner to discuss your options when it comes to planning for your retirement. That includes contributing to the Social Security System throughout your career, investing into a retirement plan, and possibly getting disability insurance in case you are unable to work for a limited period of time. Most importantly, you must also look into health insurance plans available to you as an independent contractor or small business owner, so you can take care of your health as well. If you have your own company and are listed as an employee, it’s also a good idea to look into payroll services that can set you up with all the employee-related taxes and contributions required by law, including payments to Social Security, because these business expenses will greatly help you during tax season.
Should translators and interpreters get a tech certificate to expand their skills set?
While translators and interpreters must keep up with technology in order to do their job effectively, there is no need to study to earn a comprehensive certificate or degree in Information Technology (IT)―or in any specialization, for that matter―unless you would like to check this item off your list of academic and professional accomplishments. A program that specializes in technology or another field will most likely not address the needs of entrepreneurs and independent contractors, which is exactly what you need in order to thrive in your company of one. Instead, here’s a better idea: identify your technology needs and look for solutions that work for you, according to your unique set up. If you’re a translator, you’ll need a CAT tool. If you’re an interpreter, you’ll need invest in a good headset and audio channel device. And, notwithstanding the nature of the language services you provide, you must find a system to organize your projects and/or meetings and keep your accounting records in check. Technology nowadays helps us streamline our work better, so we can be more efficient, thus spending less time performing business tasks and more time doing what we do best: working with languages. If you’re interested in learning more about the subject, check out Tools and Technology in Translation ( class | book | page | channel )
What is the average rate per word or page for translators?
Numbers will greatly vary according to each unique case, both in terms of productivity (words or pages per hour, week, or month) and in terms of income (price per word, page, or hour of work.) How much you’re able to translate in a given period and how much you may charge and, consequently, earn for your work depends on several variables: your language pairs, the services you provide, your specialization, your localization, how many hours you wish to work every day/week, etc. The more you know about yourself as an independent contractor, the easier it will be for you to negotiate prices and schedule your projects according to your own reality. Here are some free resources that may help you with that: