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Going self employed
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By (user no longer on site) OP
over a year ago
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Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk |
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By (user no longer on site)
over a year ago
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"Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk"
If you’re serious and need some advice pm me. If you’re joking and just want attention, ohhh good luck baby  |
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By (user no longer on site) OP
over a year ago
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"Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk
If you’re serious and need some advice pm me. If you’re joking and just want attention, ohhh good luck baby "
No, im serious, I'll PM you now |
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"Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk"
Take the plunge but don’t burn bridges, and ask ALOT for help.. |
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By (user no longer on site)
over a year ago
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"Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk
If you’re serious and need some advice pm me. If you’re joking and just want attention, ohhh good luck baby
No, im serious, I'll PM you now"
Everyone is asking if you are serious  |
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By (user no longer on site)
over a year ago
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"I keep thinking about it a lot dude.
I am fed up working for somebody's else dream
What do you do? We could partner up"
Well if you need someone who can speak French and Arabic hits me up |
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By (user no longer on site)
over a year ago
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"Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk"
yes I had a steady job and went self employed and have thoroughly enjoyed it, a change is as good as a rest, good luck |
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By (user no longer on site) OP
over a year ago
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"I keep thinking about it a lot dude.
I am fed up working for somebody's else dream
What do you do? We could partner up
Well if you need someone who can speak French and Arabic hits me up "
shukraan lakum |
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Both me and hubby have been self-employed for 20+ years
Best thing we ever did, at the beginning you seem to do nothing but work 24/7, no holidays etc. and ploughed ever penny back into the business, but now we are pretty much semi-retired and can pretty much set our own work schedule. |
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Yep, we both are.
Currently sitting at my laptop, working, fabbing, in slippers and a dressing gown. Not the best image....I am just about to get dressed.
I love working for myself, I am a crap employee, mind you I have only worked for someone else for 6 months out of the last 15 odd years.
Jo x |
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Love self employed
- own time management
- own boss
- own direction
However
- no holidays
- no sickness
- no safety net
Got to decide today whether to go for bankruptcy (2 yrs of being primary carer for parents has killed me) |
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"Don't get an accoutant, get a bookmaker. Will save you hundreds a year"
You do know what a bookmaker is?
I'm guessing you meant bookkeeper! and even then I'd still advise seeing an accountant unless he is running a very simple sole proprietor business. |
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By *ady LickWoman
over a year ago
Northampton Somewhere |
My hubby almost did years ago but at the time we were relatively new on the property ladder with a small child so the risks were huge.
I suppose if you have enough money to live on if it all goes tits up its not the end if the world.
If you want to so it you won't know unless you so.
We have no regrets about him not going solo btw. |
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By (user no longer on site) OP
over a year ago
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"Don't get an accoutant, get a bookmaker. Will save you hundreds a year
You do know what a bookmaker is?
I'm guessing you meant bookkeeper! and even then I'd still advise seeing an accountant unless he is running a very simple sole proprietor business."
I think a bookmaker is a good idea  |
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By *stellaWoman
over a year ago
London |
"Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk"
Can you start p/t whilst doing a general employed job alongside, just whilst you build up? |
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By (user no longer on site) OP
over a year ago
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"Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk
Can you start p/t whilst doing a general employed job alongside, just whilst you build up?"
Not really, its an all or nothing kind of deal. It's going to take a lot of time to get it up and running, my job now can sometimes have me working up 60 hours a week |
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By (user no longer on site)
over a year ago
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If it's your dream then do it.
Dont expect to become rich overnight or at all
Dont do it because it's a job. Do it because you love what you do. It's more likely to succeed that way.
Listen to all the advice you can, then make your own decisions.
Dont think about having a "fall back". The only way is ever forward.
Dont let it take over your life, it can. Work to live, remember that dream and hold onto it when times are tough. After all that's why your doind it.
And good luck, you will need a measure of it, just as much as skills and ability.
Remember it's about the fun of doing it for yourself, and those close to you...
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By (user no longer on site) OP
over a year ago
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"If it's your dream then do it.
Dont expect to become rich overnight or at all
Dont do it because it's a job. Do it because you love what you do. It's more likely to succeed that way.
Listen to all the advice you can, then make your own decisions.
Dont think about having a "fall back". The only way is ever forward.
Dont let it take over your life, it can. Work to live, remember that dream and hold onto it when times are tough. After all that's why your doind it.
And good luck, you will need a measure of it, just as much as skills and ability.
Remember it's about the fun of doing it for yourself, and those close to you...
"
Thank you  |
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By *stellaWoman
over a year ago
London |
"Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk
Can you start p/t whilst doing a general employed job alongside, just whilst you build up?
Not really, its an all or nothing kind of deal. It's going to take a lot of time to get it up and running, my job now can sometimes have me working up 60 hours a week"
It wouldn’t be possible to take a p/t job rather than your current work alongside? If not, then get down the jobcentre and ask about the new enterprise allowance and how it works, or contact some of the government schemes for increasing self employment options and see if any might be of use support wise/advice wise.
Best of luck. |
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I'm self employed, everything's easier once you get an accountant to do all your paperwork. Biggest downside is banks, rentals and mortgages all hate you. Anything involving credit becomes a lot more difficult unless you have at least 3 years of solid books |
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By *ucy LewdWoman
over a year ago
North Oxfordshire |
I've been self employed, on and off, for about a decade now. Sometimes I have supplementary jobs, sometimes it's all me.
If I could give you a piece of advice - put six months worth of earnings in the bank. Don't touch it unless you can help it.
I've never been able to do that, so my life is a touch precarious at times. |
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By (user no longer on site)
over a year ago
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I’ve been self employed (labour only) since I left school at 16.
It’s been highly successful for myself but be warned that the biggest challenge can be self motivation.
If you’ve earned big money for a few weeks running and then you fancy playing golf and drinking lager in the sun for a few days it can be hard to get back out there.
Never put off customers because you don’t need the work, do everything that comes your way if possible.
Do it bud
Worst case scenario... it doesn’t work and you go back to being an everyday shmuk like everyone else! |
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By (user no longer on site)
over a year ago
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Going self employed means to succeed you need to be the worst boss you have ever had to get to the point where your the best boss you have ever had. If you can self motivate you will not have any regrets. |
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By (user no longer on site)
over a year ago
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Yes ran my own business from 22 until last year 34. I was made a offer within a company i was contracting too that i couldnt turn down so took the plunge and went 'employed' i love it.
No tax returns
No vat returns
Payed sick days
Private health care
Payed holidays
So so so much leass stress
I wouldnt go back to self employed again in a hurry |
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By (user no longer on site)
over a year ago
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"Anybody here taken the plunge and gone self employed?
"
Can you work off agencies as self employed, to keep the money rolling in, while you get established? |
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"Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk"
Go for it! Or keep thinking about it for a year weighing up the pros and cons and then realise that you’re in the same position that you was a year ago! |
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Just to play devils advocate here as theres a lot of people saying go for it that may not be self employed themselves, theres a few things you need to remember before making the decision.
You have to sort out your own vat and tax returns
Pay your NI
Your no longer insured so you have to pay for that yourself if you require it
No sick or holiday days, if you dont work you dont earn, so holidays are doubly horrible as most employed people are getting paid whilst they on holiday so spending isnt that big of a deal, self employed people get hit twice as you're not earning and you're spending.
Potential to earn more money but usually at the expense of having to do a lot more work and hours
If you've not saved any money, an unexpected payment like a car breaking down can cripple you
Having to wait to get paid by clients
And last of all, all the stress of the business falls on your shoulders alone |
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By (user no longer on site)
over a year ago
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"Anybody here taken the plunge and gone self employed?
I'm thinking about it, I've got the website and a good few contacts in the industry I will be in. Just need to gather up the courage and take the leap. I don't have much money so failing is a huge risk"
I love being self employed so I can manage my own time and work. But trying to get money out of people for work done can be a pain in the arse. Plus I’ve been knocked for a vast amount of money recently and that is crippling. Unfortunately it comes with the territory |
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By (user no longer on site)
over a year ago
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"Just to play devils advocate here as theres a lot of people saying go for it that may not be self employed themselves, theres a few things you need to remember before making the decision.
You have to sort out your own vat and tax returns
Pay your NI
Your no longer insured so you have to pay for that yourself if you require it
No sick or holiday days, if you dont work you dont earn, so holidays are doubly horrible as most employed people are getting paid whilst they on holiday so spending isnt that big of a deal, self employed people get hit twice as you're not earning and you're spending.
Potential to earn more money but usually at the expense of having to do a lot more work and hours
If you've not saved any money, an unexpected payment like a car breaking down can cripple you
Having to wait to get paid by clients
And last of all, all the stress of the business falls on your shoulders alone"
All this and more. Thank you soooo much for sparing my fingers |
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By (user no longer on site)
over a year ago
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"Anybody here taken the plunge and gone self employed?
Can you work off agencies as self employed, to keep the money rolling in, while you get established?"
Yes. There are lots of interim work agencies that look for people to fill in in short term contracts |
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I (Luke) have been a contractor in IT so I ran my own limited company. Hannah is also self-employed.
Is there anything in particular you want to know?
The one piece of advice I'd give above all else is make sure what you are offering is in demand and is likely to stay that way. If it's not, you're sunk. |
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By (user no longer on site)
over a year ago
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Personally I found it rewarding but it takes hard work, some luck and bags of resilience. Doors open for you when self employed, though some may close. It really depends on your skill and line of work.
What's the worse that could happen?! |
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By (user no longer on site)
over a year ago
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"Anybody here taken the plunge and gone self employed?
Can you work off agencies as self employed, to keep the money rolling in, while you get established?
Yes. There are lots of interim work agencies that look for people to fill in in short term contracts "
Do that while the business is getting going, then. |
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By *abioMan
over a year ago
Newcastle and Gateshead |
just because of the work i do.... can i remind people if you are self employed, thats its always worth your while paying the class 2 NICs because those are the ones that will help with your state pension!
if you are earning below a certain amount you may not be legally oblieged to, but its certainly worth checking to see if it is still worth your while doing so |
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Can you give us an idea of what sort of business you were thinking of starting? Do you intend to be self employed or are you thinking of having a limited company? I had a limited company for over 30 years until I retired a couple of years ago. I would recommend it, though its not for everyone. You really need to do your research before going ahead with it. |
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By (user no longer on site)
over a year ago
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I'm about to.
I had my own company a few years ago but had to give it up. I've regretted it ever since so I am now in the planning stages of starting something for myself.
So excited but so bored doing my day job right now. I just want to get on with it. |
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By (user no longer on site)
over a year ago
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Great topic - one which I can speak a lot on!
I did what you are planning on doing 2 years ago - I left the comfort of my city job and since then I have created 3 fintech companies.
It has not been easy, even with ample savings in the bank I burnt through it! I managed to get some investors to support me and after months of negotiations and legals they started to drip feed me the cash. To plug gaps I have sold my cars, I have put my flat up for sale and I am due to get married this year and I am sure most of you can appreciate that weddings are expensive - going to have to break my fiance's heart with a low budget wedding
I am writing this message as I contemplate sacking it all off and going back to being on a paycheck. My businesses are highly scalable tech products so I am contemplating selling the lot to Santander... but that would mean that all my work and dreams will be for next to nothing.
Long story short - it can be brutal.
People lie and talk shit
There is no money until its in your bank - keep that in mind if you are speaking to bigshot investors - or big shot clients - they will talk a great game but most of them are gutless wankers just turning up for their paychecks!
All the best to you - but dont get caught up in the 'you can do it! go for it!' talk try and be realistic - can you deal with the pain when it becomes really really painful
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I've just started contracting and set up my own Ltd company.
I was recommended to do this rather than work with an umbrella company as I'd see far more take home pay after tax benefits/ considerations
I start on Monday and I'm quite nervous about it all as it's a huge step away from working in the cosy world of the public sector 
I've gone with an outfit called Brookson who act as my accountants and have the software to help me manage all of the ins and outs.
It's going to be a steep learning curve, but I'm sure it's the thought move for me  |
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