Hi Everyone

[tommy1989]

Hi all, 

Im looking for some advice. Im currently employed by a company with a steady workload but there is no progression and no future than just being an electrician. I have being looking at maybe going self employed and starting a small business and see where it goes. I'm very hard working electrician and have a few friends in the trade and other trades that i get a bit of work from. i wanted to see if anyone has any tips or advice for me 

Anything would be much appreciated. 

Tom 

 

[Doc Hudson]

A few points to start thinking about are: Do a lot of reading about running a business. There is a huge difference between how much work you think you will earn to what you actually get. Can you survive on a lower income. could you survive on only earning money for 9months of the year. A very high percentage of small businesses fail within the first 5 years. Can you cope with late payers and slow cash flow. How will you advertise to get work. Have you worked out your running costs and overheads that you still need to pay even if not earning money. It is possible to make it work but it is much harder to get started than it is to keep an established business running. Can you start building your new business whilst still employed to provided a bit of financial buffer.

http://www.amazon.co.uk/s/ref=nb_sb_ss_c_0_21/280-5341599-8517119?url=search-alias%3Dstripbooks&field-keywords=starting+your+own+business&sprefix=starting+your+own+bus%2Caps%2C192

https://www.gov.uk/starting-up-a-business/set-up-your-business

Doc H.