Many people often dream of escaping from the rat race and becoming their own boss. Having nobody to answer to but yourself, to work the hours you want to work and to have the freedom to choose the work that you do.
There are now over 4.6million self-employed people in the UK, more than ever before! So it’s clear that many more of us want to take control of our careers in this way.
Going it alone is a huge gamble and fraught with risks. Without the safety net of a regular salary we still have to meet our rent/mortgage payments, cover bills, eat and hopefully still be able to save for retirement or have holidays. When you’re self-employed you also don’t get sick pay or holiday pay, so each day you’re not working there’s no money coming in. We recently met a client who was taken ill and unable to work for 4 months, which had a major impact on his personal finances.
There will be decisions to make around how you set your business up, maybe a Sole Trader, Partnership or Limited company. When setting the business up there are decisions to be made about shareholdings, involving your spouse or other family members and so on.
Once you are up and running there are many things you might not even think about that you need to do alongside your main business. It’s not just going out and doing work for a customer or selling your items on eBay. You’ll have to market your business, go and meet potential clients, quote for work, raise invoices, do your banking, chase late payers, buy stock/tools, potentially do payroll and so on. It can be a very trying time, so it’s good to have support you can rely upon to help you out.
There are a lot of services that we offer which can help save time and use our expertise to reduce your tax bill. From using our address as your registered office through Accounts, Bookkeeping, VAT, Tax Returns, Payroll and Pension Auto Enrolment we can do as much or as little as suits your needs. And we’ll always be here at the end of the phone or email to answer any questions you may have as you get started – we don’t charge for that advice either, it is part of the service. Our goal is to help you grow and develop your business every step of the way. We also have a lot of contacts in other business sectors to introduce you to who will be able to help you along the way.
If you’d like to talk about this in more detail please get in touch with Phil Bradley on 01543 426271 or firstname.lastname@example.org to arrange a FREE no obligation meeting.
Member since: 8th October 2015
Working at Bradleys Accountancy Practice in Hednesford. A family run accountancy firm since 1991.