going self employed?

[DomP]

Anyone on here ever given up an averagely paid job to go self employed?
I'm fed up of my retail job and working weekend and am thinking of working for a neighbour who's a thatcher utilising my other skills in woodwork along with labouring for him. Weekends off!

Slightly crazy idea but feel like taking the plunge and maybe going to college in the evenings as well - something my current job gives me no time for.

Any thoughts?

[DarrenSV650S]

All the self employed agency guys are panicking just now because the tax rules are about to change soon, meaning they can't claim for petrol and other expenses. So they would be just as well going on the books.

They're saying they might have to set themselves up as a limited company to get around it. Some are talking about registering as a company in Ireland or Italy lol

Sounds like a lot of hassle to me.

[BoltonSte]

One of the lads at work has just come back after leaving 18month ago to be self employed. He went to do double glazing for a mate and ended up being paid late or not at all. So he's jacked it in and came back working for 'the man'. If it gives you more time and employs your skills in a job you enjoy then why not give it a go? Although I'd learn from his mistakes and try and sort the pay aspect out.


there are plenty on here who do it, wish I could but I'll always be a frustrated engineer working for someone else.

[timwilky]

2 of my brothers are "Self Employed"

1) handed the business over to his son when there was risk of a stupid assault prosecution and risked the alleged victim targeting his assets for compensation.
Other) grew his business, sold it. Formed a completely different business, few staff, Recently made them all redundant. And now operates in a simpler model. No staff to pilfer, demand pay rises, pension rights, damage equipment, damage vehicles, use vehicle for personal use etc.

Both would argue, small businesses are easy targets for scum bags.

My 3rd brother, formed a very successful consultancy partnership that traded for 20+ years. He went on holiday and came back to discover the locks changed. the partnership dissolved and over £350,000 missing. His friend/business partner was even more of a scum bag.

My son was for 10 years self employed as a tiler, his "employers" required he work in this manner. Provide his own vehicle/tools etc. Building recession sets in. No work. No entitlement to benefits. He nearly lost his house and I paid his mortgage for a couple of years.

There is a lot to be said for a regular wage.

[DomP]

Thanks for the replies, all valid points. In my situation I've got four children and have worked most weekends for the past 15 years and am fed up with feeling like I'm missing out on some of the more enjoyable times.

The business I work for is a bit of a strange partnership setup so pay rises are rare and working over Christmas and even boxing day/easter Sunday is looking on the cards this year. I'd also save 1500 a year in fuel costs.

Hmm...well I will ponder this some more, once again thanks for the advice.

[Fen Tiger]

If you can make ends meet on the income from changing jobs I would go for it. Sounds like a much better quality of life and to state the obvious, you only live once. I understand the decision is not that straight forward when you have dependants so you need to make sure they will not be deprived by your move. If the income is reliable they will be better off as they will see you more. I worked a 24 hour shift rota for 21 years before changing to regular hours. It transformed my home life and wish I had made a move earlier. But you can't wind the clock back.

[punyXpress]

Whereabouts are you, Dom?
Pal of mine had a couple of thatching businesses near Exeter & Swindon, he's retired now but should still have contacts.
When he started, thatching was notorious for all the workers being self-employed but he broke the mould and employed them with the security that gave.
Helped him a couple of times - the job's great when the sun shines.
Only caveat: how good are your knees?
Contact, here or PM if you want more.

[DomP]

In Herefordshire, getting outside is also one of the things I'm looking forward to the idea of. Knees are fine currently, touch wood.

[Littlepeahead]

My husband is self employed - he's a bricklayer foreman. He has a good accountant - I don't mean dodgy, but he ensures Stu can claim for the things he's legitimately entitled to.

Upside - you can take a day off whenever you fancy. Downside, if that's 6 weeks when you hurt your back you don't get sick pay. Same when it rains. Or you run out of work. Or no one needs you for 3 weeks over the festive period. No paid holiday either. So factor in how many days/weeks a year you may lose, plus a couple of weeks you want to take as hols and then see if you can make it work.

And get a private pension!

[DomP]

A whatsion?