How much does it cost me to do my own administration?'

I've never run my own company before and it doesn't sound so hard. All I do is buy some software, get a company off the shelf and a decent accountant. How much effort will it be?


It depends on your personality type and how dedicated you are. Some people are great doing their own admin and finances... others aren't so diligent. We've put together a simple calculator to help you work out how much each hour of free time is worth to you. We kept our calculations of this quite simple: how much do you earn, how much productive time do you have (e.g. time you could work on your taxes), how much non-productive time do you have (e.g. sleeping), and how much time do you spend either working or getting to work. You can easily see how those hours each week and month that you spend doing all the admin for your own personal company add up both in terms of time and cost. See the sheet here. Contractor Time Worth Calculator(in excel format) or here as google docs Contractor Time Worth Calculator