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Going Self Employed

Discussion in 'General Discussion' started by NFL_Psycho, 22 May 2006.

  1. NFL_Psycho

    Associate

    Joined: 16 Oct 2005

    Posts: 32

    Location: East Yorkshire

    Hi, Im currently putting some deep thought into starting up my own PC repair business and I was wondering if anyone has any useful tips or advice?
     
  2. Rhys

    Wise Guy

    Joined: 3 Jan 2006

    Posts: 1,823

    Location: South Wales

    Reviving this thread as I bascally have the same question.
     
  3. Muffin`

    Caporegime

    Joined: 21 Apr 2004

    Posts: 33,152

    Location: Bristol

    Woah, epic revival, I'm sure you can tell that no-one responded because there are no 'useful tips' - stay away. :cool:
     
  4. Jambo

    Soldato

    Joined: 4 Aug 2004

    Posts: 5,205

    Join a business forum.

    Alternatively some specific questions would be good.
     
  5. FISHGUTS

    Hitman

    Joined: 7 Jul 2004

    Posts: 809

    Location: N.W. England

    Well you can't get child care vouchers.
    Found that one out today.
    employees can, but not the employer, cause of course being self employed means you are automatically wealthy!!
     
  6. Bar

    Mobster

    Joined: 9 Apr 2004

    Posts: 2,540

    If you are going self employed you have two choices: Sole Trader or Limited Company.

    All sorts of pro's and con's to both but there are tons of websites out there.

    The most important piece of advice is make sure you are very self disciplined. There is so much that you need to sort out in terms of your accounts but also stuff like insurance etc.

    If you are organised and do things as soon as they come in its easy - don't let things build up - I've done it and it takes ages to sort out.
     
  7. Jonny69

    Man of Honour

    Joined: 3 May 2004

    Posts: 17,669

    Location: Kapitalist Republik of Surrey

    Just register as self employed with the Inland Revenue or whever they're calling themselves these days. You can do it all online.

    I started with a few ads in shop windows, then an ad in Yellow Pages and regular leaflet drops. I'll warn you though, there aren't as many viruses doing the rounds and computers are a lot more reliable than they used to be so repeat business is a lot lower than it was when I started out. The reason I gave it up was I spent so much time chasing new business to replace the repeat business that was not as frequent. Yellow Pages also isn't as popular as it used to be with punters and the advert is expensive. If you're going to have one make sure you don't mind working round that area. What I'm trying to say is get an ad that covers all the crappy estates in South London and that's the business it'll bring in: lots of scum who want something for nothing, will try and make you feel bad for charging them and then won't be repeat business. On the other hand get an ad in a nice area and it'll be well-off middle class families who make nice tea, have well behaved kids and will be calling you back regularly - this is what you want. Target these areas with leaflets and try not to get it done on the same day as the free papers and pizza deivery leaflets :)
     
  8. ArmyofHarmony

    Wise Guy

    Joined: 15 Feb 2006

    Posts: 1,872

    Location: hell

    Spread your own viruses


    more business
     
  9. Rhys

    Wise Guy

    Joined: 3 Jan 2006

    Posts: 1,823

    Location: South Wales

    Thanks for the replies. I think Ill just do some cash in hand stuff for friends/family and see what happens via word of mouth.
     
  10. houndster

    Associate

    Joined: 15 Aug 2007

    Posts: 18

    A shockingly niave statement.:eek:

    ... walks off in disbelief at the narrowmindedness of some ocuk forum users
     
  11. Arsey

    Wise Guy

    Joined: 28 Feb 2006

    Posts: 2,498

    Location: Wimbledon

    My dad is self employed and he recently had a heart attack, now he is off work without sick pay. Just one downside to it.
     
  12. muzzler

    Wise Guy

    Joined: 1 Dec 2002

    Posts: 1,006

    Location: Portrush, N.Ireland

  13. furnace

    Mobster

    Joined: 12 Dec 2006

    Posts: 3,421

    Location: Worthing, West Sussex

    Just to subscribe to the thread; I need to set up 'properly' (I'm doing web development - money comes in from clients and ad revenue) so any more links are appreciated :) Wondering whether to go Ltd, Sole Trader, what other options there are, and what the pros & cons of each are.
     
  14. Dave M

    Soldato

    Joined: 17 Oct 2002

    Posts: 5,536

    He's speaking from experience, is it naive to tell it like it is (or was) or to tell lies because it isn't politically correct?
     
  15. Megahurtz400

    Sgarrista

    Joined: 5 Jun 2007

    Posts: 8,115

    Location: Colchester

    Well with a ltd compant you have:

    • Share holders - Depends if you go private or public, private - You can only sell shares by word of mouth/advertising, Public - Your shares are put on the stock market
    • Limited Liability- If you get into ridiculous debt, you wont be fully accountable for it.

    Sole trader is basically the opposite, no shares and unlimited reliability.

    Dont quote me on any of this though, as we were doing this section of business this time last year and im a bit rusty :\
     
  16. Jonny69

    Man of Honour

    Joined: 3 May 2004

    Posts: 17,669

    Location: Kapitalist Republik of Surrey

    Yup sorry bud, as said above I did this for 5 years :)
     
  17. houndster

    Associate

    Joined: 15 Aug 2007

    Posts: 18

    Was refering to "they make nice cups of tea", and have behaved kids?
    no comment. :D
     
  18. Captain Kirk

    Hitman

    Joined: 25 Aug 2005

    Posts: 717

    Location: Derbyshire

    As an accountant (albeit a rubbish one) I can confirm this. Being ltd though, you have to produce annual reports, in accordance with silly rules, sorry I mean best accounting practice, and make them available to anyone who wants to see them.
     
  19. muzzler

    Wise Guy

    Joined: 1 Dec 2002

    Posts: 1,006

    Location: Portrush, N.Ireland

    after reading up on what was needed i think sole trader is the best option for furnace.
    is it mainly yourself doing all the work? if so i think a ltd company would be a lot more hassle than going down the sole trader route.
     
  20. slinxy

    Mobster

    Joined: 3 Dec 2002

    Posts: 3,939

    Location: Groovin' @ the disco

    there are some agencies that will sell your skills to companies for a cut. Might be worth looking into for experience and reputation building... and they can help setup an umbrella company to help with taxes and some cases sick pay. I looked into going freelance in the past but never running my own business. Maybe worth looking into going freelance for a while before making the jump to running your own business.