Starting up your own business

[Aqua Mechanica]

Hello again,

Just wanted some advice really or links to websites that may be of help.

I've always worked as a sub contractor but left them back in september after their pricebook rates went down to an absolute pittance.

Since that time, i've not advertised but have had a fair few jobs by word of mouth.

I got stuck on whether to go back to the old firm or starting out on my own. When it comes down to it, I am a fairly ambitious chap and working for myself does really appeal to me.

My question is, where can i find advice about becoming a limited company, how to gain more work in my area and basically all things business related that i should learn.

Any help, much appriciated.

Thank you

Ben

 

[mickwhiteside@t]

I am a newbie to the self employed and I first approached my local business link. This link if it works Business support, information and advice | Business Link looks like being your local one. They helped with the startup planning and gave me some help doing extra courses.

Good Luck it is very hard work at first and you have to be prepared to live on a pittance but hopefully things will get better as people get to know you are available.

Mick

 

[Aqua Mechanica]

Thanks very much, all taken on board and I'll get in touch with business link.

Cheers ;-)

 

[ubend]

I picked up a book written by the "Times" newspaper on amazon.co.uk all about forming a limited company.Well written and one word of advice learnt from business link, choose your limited company name wisely.

 

[JULIED444]

My husband and I started our own Heating business 4 years ago - the best "gimmick" for want of a word - is the theme that everybody wants to use local businesses, (local produce, local shops etc.. that sort of theme) and have found it very benefical to advertise in our local parish/council newsletter - giving a price of a boiler service (we do £65, which for our area is pretty cheap) - once you get the service, you get all the other jobs. Also working local, cuts down travelling etc.

One website we found very useful is Touch Local Local business directory - if a customer is pleased with your work - get them to do a report on you on the site. Don't bother with paying for yellow pages, just do the freebie line - most are just timewaster comparing quotes.

Get a good accounant - who will hopefully say don't become a Ltd company to begin with - a lot more expense and paperwork. I did a lot of the business link courses mentioned in the other post and they also recommend avoiding being Ltd - sole trading is the cheapest way to go.

Good luck!

 

[Steve_P]

You can pick up an off the shelf LTD company from same day limited companies, only cost about a hundred quid but you then run into problems if you need finance, worth talking to your bank about that.

A decent accountant is a must though, sort out the accountant then talk to him/her about limited company registration and the likes.

 

[Steve_P]

Forgot to say that there are advantages of having a limited company, the tax on shares is less than the tax on earnings and of course as a company director, you would be the shareholder so most of your proffit will be paid in dividends.