Is becoming a contractor at such an early age likely to limit your career progression?

Yes. You'll generally be hired for what you've already done, and significantly at the junior end.

Yes, that would only be worth doing as a route to getting a full time position in the company you contract for

I would agree with the first 2 comments but would ask "are we talking about you being 22 or 29 and with what experience!?!"On the early 20s side then no I don't think its worth it at all. Theres a billion of you (and some excellent CVs) looking for roles.If late 20s, then there might be some good opportunities to go into a company, have a smell and decide if you want to go full time. However, you must have some very good differentiators on your CV for this to work. An excellent MC or FI, great qualifications etc. (ie junior level mangt with average Uni and grades is unlikely to allow to do what you want contracting wise)

I'm now in my late twenties and have worked as both perm and a contractor. Getting contracts is tough if you are a typical mc (i.e a generalist) but if you have specific skills in a particular area it will help. However it does come with the premise that you will probably hired to do the same thing over and over albiet for difference audiences, so in terms of limitations you won't have the variety or growth you may get being a perm. Also a side note a lot of my mates that were contractors have gone perm because of market conditions.