Want my own business

Discussion in 'Electrics UK' started by sparky23, 23 Feb 2008.

  1. sparky23

    sparky23

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    Hi everyone just wanted to know how i go about starting my own business. i have city and guilds 2360 1 and 2 and 16th, i am competent in testing but dont have 2391. i have just had enough of working for someone and want to go it alone. can anyone help out with what i need to have before i take the leap. Thanks for your time and help.
     
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  3. luminaire

    luminaire

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    You'll need to be Part P registered.
    Get some cards made up and start shoving them through some doors.
    If you can get your local paper to write an article on you, that'll be free advertising for you.
    Let your friends and relatives know you're going self-employed and to spread the word for you.
    If you do a good job and make sure you clean up afterwards, people will recommend you as well.
    You'll also need indemnity insurance.
    Go for it.
     
  4. FingRinal

    FingRinal

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    I would advise this:

    1. place a small advert in a local paper or post office/shop now. Use this to gauge interest. You may be shocked to realise that your phone doesn't ring at all.

    2. You don't have to register as self-employed with HMRC as soon as you start. So you have some time to play with. Visit the HMRC site for the guidlines.

    3. Before you pack in your day job, consider any credit cards, mortgages etc. that you might wish to change as after you leave regular employment, you may find it harder to do it. Or if you need an extra credit card, get it now hilst you can.

    4. Save like crazy for 6 months and tuck a bit away with your Mum/ other relative for when things get desperate.

    5. Don't open a busines account until you have something to put into it. You'll need the free banking for as long as possible when you start trading.

    6. Shop around for free business start up advice. Streets Accountants offer this for example and there may be other organisations in your area who can help you through the various stages. I know one person who reckons the best thing they ever did was join the Federation of Small Businesses fore example and got great advice plus deals on bank account, credit card payments etc.

    7. Don't blow your money on van and tools. You can make do with a normal car with roof rack at a push. Simply buy magnetic door signs for about £50/pair.

    8. You'll need to join a Part P Scheme. This will set you back about a grand or so to include fees, insurance, Regs and tester. Apply once you start to pick up a few jobs and start to get enquiries. You can always pop around to give estimates for the practise and say you are too busy if you can't do it.

    9. Don't print thousands of marketing items such as business cards, letter heads etc. Go for freebies from Vistaprint for starters.

    10. keep your day job and try and pick up evening and weekend work now the days are getting longer. If you pick up a big job, simply notify it the LABC first and pay the fee. It's profit lost but it gets you going.

    11. Register as a sub-contractor with HMRC under CIS so that you can sub yourself out officially if required.
     
  5. sparky23

    sparky23

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    thanks for your quick responses. Well that definatley gives me something to aim for. So should i expect that money will take a big noise dive at first untill business picks up? I will be doing some jobs at weekends/ evenings whilst with my employer before i make the move.
     
  6. FingRinal

    FingRinal

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    Make provision for hardly any work coming in for the first 6 months. Then make provision for a low income for the next 6 months. Most businesses fail in the first year and there is a very good reason for it.
     
  7. Chris.J

    Chris.J

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    1)Check out the Nationwide for a Business account.
    2) Ask other local Tradesmen who they use to do their accounts & SA Tax form; try & find a recommended "one man band" Accountant & go & talk to him/her now. Start with a paper system that you basically understand.
    3) Work from home.
    4)Talk to a local Ins. Broker re. a "home-work" Policy to replace your existing Contents one.
    5) check if your Buildings Ins. excludes Business use-integrates with 4)
     
  8. thompsk

    thompsk

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    Rather than having your own buisness and getting Part effin P why dont you still go self employed and do sub contract work instead, that way you dont have to chase up customers for their money etc, you are still your own boss and you can pick and choose the kinda work you want to do, ive been a sparks for some 20 years, did my time then went employed with a company or two, then 10 years ago went self employed subbying and havent looked back, I have some companies I regulary work for and for that I am greatfull, the places I have worked have been more varied than just a normal sparks would see ie MOD and other Governmental depts as well as different industrial and commercial sites....just something else for you to think about and you dont need money up front to do it, just hand your notice in and look for agencies that take on sparkies or look at the job center online site and look for contract or temporary work.
    Good luck what ever you do.
     
  9. DIYnot Local

    DIYnot Local

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    If you need to find a tradesperson to get your job done, please try our local search below, or if you are doing it yourself you can find suppliers local to you.

    Select the supplier or trade you require, enter your location to begin your search.


    Are you a trade or supplier? You can create your listing free at DIYnot Local

     
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