The ATA Chronicle - March/April 2023 - 29

BUSINESS PRACTICES By Sara Maria Hasbun
Should You Start a
Translation Agency?
The following was originally published on Next Level: The ATA Business Practices Blog. This initiative
by ATA's Business Practices Education Committee provides information for both freelancers and
company owners to use in all aspects of their careers, from improving their privacy protections to
planning for retirement.
ou have been a
freelance translator
for a few years now
and settled into a good
rhythm. You have some
steady clients and are feeling
confident in your abilities.
Now you start to wonder:
" Should I be starting my own
translation agency? Is that
the next step? "
You might notice
colleagues going this route:
incorporating as a business,
Y
coming up with cheeky
company names, and tacking
on an " Ltd. " or " LLC. "
In fact, there are many
ways to build a career in
translation. Starting a
business is only one of
them. Depending on your
personal goals, you could
easily choose to remain a
freelancer for the entirety
of your career. Many
freelancers stay the course
and handily reach their
financial targets while
maintaining a flexible
lifestyle.
However, if you choose
to go the entrepreneurial
route, you can access a wealth
of new opportunities: for
learning, for networking,
and for growth. And the good
news is that service-based
companies (in comparison
with product-based
companies) can be launched
without very much up-front
capital. The translation
field is particularly wellsuited
to making a gradual
transition from freelancer to
" solopreneur " to full-fledged
growth business owner.
But we should reiterate
here: starting a business isn't
your only option (and it's
certainly not for everyone).
Most importantly, you
should carefully consider
your personal goals before
setting up a translation
agency. You should also
consider your personal
tolerance for risk.
y Are you ready to absorb
large losses? If your
company accepts a large
order and the client fails
to pay, are you (and your
family, your team) able to
overcome that obstacle?
" Business Practices " will alternate in this space with " The Entrepreneurial Linguist. " This column is not intended to constitute legal,
financial, or other business advice. Each individual or company should make its own independent business decisions and consult its own
legal, financial, or other advisors as appropriate. The views expressed here are not necessarily those of ATA or its Board of Directors.
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The ATA Chronicle - March/April 2023

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