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Where Am I -   Self Employment

Self Employment

This could be a really exciting opportunity for you if this is something you have always thought about doing. You may be entitled to a large redundancy payment and have always thought of becoming self employed, so this could be the right time for you to really look into all the pro’s and con’s of this prospect.  There are key points to consider and there are lots of people out there who can offer you sound advice and help.

Some Thoughts to consider:

  • Talk to your family first, do you have their full support and understanding?

  • Do consider the long hours you may have to put into this enterprise are you prepared to do this?

  • Do you have the skills needed or will you require training?

  • Are you thinking of a franchise if so check out with at least five others to see how they are doing.

  • Talk to people who have done something similar.

  • Talk to the various banks to see how they can help you financially to start up

  • Check out your local chambers of Commerce they often offer advice and or training

  • Talk to local agencies or people you know who are freelance or do contract work and ask them what the benefits and pitfalls are of being self employed.

  • Contact Business link, this organisation is a support for start up business they run business start up training all over the country which are free. www.businesslink.gov.uk 

  • The Business link also has a grants and support directory which will allow you to search for sources of help with your new business. These grants can be local or national and can be a real boost to getting off the ground.

  • Check out the competition, if there isn’t any why not, is this sort of business right for this area?

  • Check out the tax implications of becoming self employed, you will need to register with the HM Revenue and Customs . You can do this by phone the number is 08459 154515

  • Look at the  Citizens Advice Bureau website for advice and many other pieces of useful information.

    http://www.adviceguide.org.uk/index/life/employment/self-employment_checklist.htm

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