Thriving in a changing market

Nicki Bone examines what it means to be a freelancer and asks members to consider whether their current ways of working are as robust as they need to be.

Over the last couple of months, I’ve been reflecting on the many insightful and informative presentations given at the ITI Conference. I was particularly pleased to note that our programme featured several papers from our academic members, as connecting research with practice is an important element of supporting the profession to navigate the evolving market for language services. If you have not had the opportunity to watch “Perspectives on the translation profession” by Dr Callum Walker MITI, Dr Joseph Lambert and Dr JC Penet then I highly recommend it, as it offers useful clues about where we need to rethink our approach to the profession to futureproof our businesses.

Freelance life

Given what we know of current market conditions I believe this is the right moment to review our understanding of what it means to be a freelancer and to ask ourselves if our current ways of working are really as robust as they need to be.

As freelancers, we benefit from the flexibility offered by our choice of working life, but we also accept that we don’t have the protections that employed professionals enjoy. As business owners (whether we think of ourselves in those terms or not), we are responsible for all financial and administrative matters including negotiating contracts, tax and National Insurance, pensions, invoicing and collecting payments, and compliance with GDPR to name just a few.

Marketing matters

We are also responsible for marketing our services, a skill that comes more easily to some than to others, but which is now essential to maintaining a healthy pipeline of work.

This applies to every ITI member. I accept that marketing may have been less necessary in the past, especially for those who worked solely or mostly with agency clients and were fortunate to rely on a steady stream of well-paid work. However, this is no longer the case; the landscape of our industry has changed over the past few years, not just because of the rise of AI but as a result of fluctuating market dynamics, plus the mergers and acquisitions that have created what some refer to as “Big Transla”.

All of this has contributed to downward pressures on pricing. I have personally witnessed agencies offering significantly lower rates than they did 10 years ago, so about 18 months ago made the decision to bolster my business resilience by reducing my reliance on those agencies and seeking out new clients – either better paying agencies in my source-language countries or direct clients in my areas of specialism.

I now urge all those members who are reticent about adding marketing to their skill set, or investing time in cultivating new clients leads, to take this vital step to futureproof their businesses.

ITI is here for you

I understand that some members might feel that this is a step outside their comfort zone, but please remember that ITI is here to support you. As your professional membership body, we will continue to:

• Provide opportunities for your ongoing professional development
• Foster a supportive community of translators and interpreters
• Uphold and promote high standards in our field
• Advocate for our profession and its value to business and society

The ITI website has a wide range of free and low-cost CPD activities and events, including webinars, workshops and podcasts that can help you acquire new business skills and any member who attended the ITI Conference in Edinburgh, either in person or virtually, can catch up on the ITI Conference recordings in the conference app. If you didn’t attend the conference, members can still buy access to the presentations.

And ITI can help in other practical ways too. We are very fortunate to have a wonderfully supportive professional community. One of the many benefits of being an ITI member is the wealth of local networking and CPD opportunities available through our Networks. If you are not a member of your local geographical network, language, subject or support network, then I heartily recommend that you join as soon as possible.

If you are a Qualified Member, you also benefit from being listed on our ITI Directory, which means your details are visible to anyone wanting to buy translation services. I highly recommend having an engaging and up-to-date profile to really make yourself stand out. You can find our advice about making the most of your ITI Directory profile in our webinar.

 A key tip is to make sure you highlight your translation experience in your specialist sectors. While there is no guarantee of work, this can be a very effective marketing tool; I have received a healthy number of enquiries from the directory, as have many other colleagues.

I hope these suggestions will help members to navigate the shifting seas of the freelance market and build the skills to seek new – and hopefully better – opportunities in the future.