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Old 09-03-16, 10:32 PM   #21
Wideboy
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Default Re: going self employed?

Depends on who you do work for. It's fairly common for reasonably sized companies to hold off payments for lengthy amounts of time which can cause problems if you don't have the money to cushion it. The company I currently work for are really bad for this and its across the board with labour and materials, I know of two local small companies that have folded due to companies not making payments on time and its pretty common and widespread across the building trade.

I've been on both sides of the fence. Being on the cards in easier (IMO) but you tend to end up working longer for less. By the sounds of it what your going into, your only concern is going to be getting a level of work to keep you in the money.
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Old 09-03-16, 11:59 PM   #22
embee
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Default Re: going self employed?

I've been a self employed sole trader for almost 25yrs, mainly doing my own thing but occasionally doing short term contracts (not so much now).


Contracting really puts you largely at the mercy of the company, fortunately I've been working for very decent companies, T&C's very clearly set out and stuck to.


Being a straightforward sole trader doing your own stuff has pros and cons, nice to be fully in control of what you do or don't take on, but nowhere near as secure as being an employee with all the employee rights and regular income.


Really depends how secure you need to be, how much cushion you have financially etc. Cash flow is everything, you can't afford someone to default on paying a bill. Check carefully what costs you've got to cover, liability insurance etc.
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Last edited by embee; 10-03-16 at 12:00 AM.
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