Going self employed - any advice

[electrospark]

Been thinking for a while now about going out on my own.
Obviously i want to do everything by the book and join the Nic etc. How do you go about joining them?
Also with all these new regs of bonding having to be present before you make any alterations etc to the wiring, does anybody find this loses jobs as customers only want the job they've asked you to complete, not to start installing bonding.

Whats everyones advice?
Ta

 

[securespark]

Join the ECA, not the NIC.

 

[electrospark]

why do you suggest that?

 

[securespark]

Because I intensely dislike their attitude & approach.

They disregard the OSG, swear blind they only follow BS7671, yet seem to have their own rules which I have never yet found in the book.

The ECA, on the other hand I find far more down to earth (excuse pun) and not at all arrogant.

 

[electrospark]

It seems like a good point. The company i work for now is nic but i never have anything to do with them so wouldn't know. I will bare that in mind. Thanks

 

[securespark]

That is just my own personal POV: I'm sure others will post their thoughts here.

 

[Pensdown]

I'm a member of both the ECA and the NIC and overall, if I had to choose one it would be the ECA.

The ECA stands for "Electrical Contractors Association" and that's just what they are. They give your customers financial bonds for your work in case you stop trading during a contract, very competitive medical insurance for you and your staff, (free to the boss) defective goods recall information, H&S newsletters...I could go on.

They also hold monthly regional meeting (quite often in pubs ) and they invite speakers from manufactures, IEC, training bodies etc. They are a true trade association.

The NIC give you jack s...t and unless you stand up for yourself they will bully and milk you.

However, most of my clients only use NIC approved contractors which is why the NIC are still the industry leaders.

PS.. Tip - If you want to make a profit, don't buy from CEF

 

[Norv]

I went self employed just after Xmas 2008. A couple of things I'm glad I did was 1. buy all my tools when I had a job with money coming in every week & 2. had about 3 months mortgage sat in the bank for quiet times.

People dont pay up straight away & cash flow can be a problem & you got to keep on top of it.

My mum is doing my books at the mo because I dont have time but intend to get an accountant later on.

Be prepared to do quoting & paperwork on an evening

Get some leaflets made up & post them through doors.

Try & do as much preparation as you can for your business before actually going Self Employed. You'll be suprised how much it costs to set-up.

You wont regret it though

 

[FingRinal]

(Assuming domestic only). Doing things properly can cost you work. You have to decide if that will affect you or not i.e. to turn a blind eye or not.

The way things are going, changing a light bulb will require a full re-wire and certificates signed in blood.

You may be surprised at how little some of the general public expect to pay. How many of them think £100 per day for labour is a rip off - sometimes even for two men!

I would advise you to 'go live' whilst still employed if you can. As above, buy your tools, get registered, do some advertising etc. and see what happens whilst you still have a pay packet. And start evenings and weekends. You'll be surprised at how many people will allow you spread work over a few weekends if it saves them a bit of money! Once you have overcome the intial lull, then think about handing in your notice.

I've seen guys leave to set up without thinking things through only for them to return cap in hand a few months later.

 

[electrospark]

Thanks guys. I will start on a bit of research now.
Thanks for your advice.

 

[thompsk]

Another thing you could consider is going self employed but subbying, get your work through agencies etc that way you can choose your work and you always get paid on time, I have been subbying for the last 12 years and never had a problem in getting paid or finding work the rates at the moment are good iro of £15 - £20 per hour on cis ( Self employement ) but I would recommend you get your cscs card and some other sort of safety course as well in the humber area its called a safety passport this allows you to work at all the local power stations and chemical / gas installations, its also worth getting a ipaf licence for scissor lifters and cherry pickers.
Whatever you do good luck

 

[electrospark]

Thanks Tompsk,
I got a ipaf licence not long back now so thats an advantage i didn't think about. I live in central london so hopefully there is a bit a work about...

What about Part P. I haven't even looked at what is involved with registering with them. I normally Part P all my work on the company site so again something else to think about.

Also I have a JIB card, but the ******* only class me as an senior trainee as i have not completed the NVQ3 portfolio, despite the fact I have 7 years in the trade upto 2391 level. (I know 7 years isn't that long) What I was getting at is I have the CSCS card I completed with the ECA.

Just need a few cusomers!

 

[securespark]

I went self employed just after Xmas 2008.

You can't be doing very well, then, because you've got into your DeLorean & come back from the future...

 

[breezer]

on the contary, he is doing well that why he has a deloren to go to the future.

oh, joking aside, get an accountant now. and you really must keep all receipts.

you are also supposed to register with the tax man within 3 month of starting up

its amazing what else you can claim for / business expense.

paperwork

you will find that paperwork has a sneaky habbit of multiplying when you dont look after it.

tax man doesnt care what you do, all he wants is money, so keeping on top of all paperwork is a must.

if you do do a quote for a job, go home type it up and send it the next day (keep envelopes and stamps at home)

get a rubber stamp with your company name (no idea why just get one)

keep a backup of all paperwork you type on say a flash drive

keep spare ink at home for the printer

make time to do the paperwork, and stick to it

 

[Norv]

oh yeah...... doh