Self Employment or Not?

This is a question always been asked?

Whether to be in Employment or Self Employment?  My answer has always been – “Follow your Passion”.

The beauty about following your passion is that you would “Enjoy doing what you are doing”.

The average wage in the UK is around £24,000 per annum.  64% are in employment and 11% are in Self Employment.

This 11% create the entrepreneurial culture in Britain ranging from Corner Shops to Manufacturing firms.

So what skills are required to be an Entrepreneur??

  1. Organisational skills
  2. Communication skills
  3. Business Awareness
  4. Negotiation skills

& should be skilled in

  • Human Resources
  • Finance
  • Marketing
  • Product / Service knowledge

Self Employment has it is advantages as well.  You will decide your future, you can work at your own pace etc & earn the rewards associated with the risk taken.

When starting in business, consider the following

  1. Business Risk
  2. Business Plan
  3. Cash Flow Forecasts
  4. Taxation
  5. Value Added Tax

Excel Accountants can provide you with the inputs to make sure that you succeed in your Self Employment. Why not call us on 07879601780 for an initial FREE Consultation? We wish you Good Luck!!

 

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