Its something I'm considering doing in the next 2-3 years. I have a good idea of the type of work I think I can get, but wondered what other peoples experiences were? What are the costs involved in setting up as a Ltd company etc, taxes all the little things you dont think about, would be interesting to hear some success stories too!

53829[/snapback]

Let me get this right, you log on every few Months to hurl abuse at people and then ask for advice on major life changing decisions? Do behave.

I started out 6 odd years ago with what I had in my back pocket and I managed OK. What about you, who are you, what do you do, how many people got depending on you?

How long did it take you Ian?

15 years of being employed gaining the experience, and so far 3 years of being on me own, mainly subbying but building a business as i go.

Woosh have you never asked for a deposit, say 30% up front. Most companies used to do it, dont know if they still do. It cover the kit generally.

I still dont think you NEED 10k.........

I have an idea in mind, its more a product to market but using existing technology would probably do normal security work as well especially to start off with, maybe subbing depending on what it is (and more importantly what the money is like)

I'm more concerened about possible pitfalls, like what to d if someone wont pay, tax all that sort of thing, just the day to day practicalities really.

Lurch - grow up.

Only once for a first time customer i got 50% up front to cover 5K worth of materials. Have done more work since on a 30 day credit no problems. I think that working for yourself you have to take the odd chance on customers paying I would never go back to being an employee. Would any of you ????

nope!

Only once for a first time customer i got 50% up front to cover 5K worth of materials. Have done more work since on a 30 day credit no problems. I think that working for yourself you have to take the odd chance on customers paying I would never go back to being an employee. Would any of you ????

53946[/snapback]

Wouldnt want to but i would never say never!

Only once for a first time customer i got 50% up front to cover 5K worth of materials. Have done more work since on a 30 day credit no problems. I think that working for yourself you have to take the odd chance on customers paying I would never go back to being an employee. Would any of you ????

53946[/snapback]

Despite what I said. NO.

If i could change anything?

I would never have gone self employed.

Sure things are good now.

But was it worth it?

I dont think so.

Jef

oh sure I know what you mean about control having a bit of control over your destiny cant be a bad thing. There are a number of factors that are making me think about making the move, mainly that the idea I have is a good one, I've always wanted to work for myslef is another, and the impending takeover of our firm by the boss' son is another reason for thinking baout it (ie going from a good guy to an idiot!)

The biggest difference I have found between being a employer rather than an employee is control, as an employee I had no control as a employer I have full control. If you dont understand that statement or you dont know how to control then stay employed.

54002[/snapback]

Quoted for agreement