Self employment

JOBSHOP

Self-Employment Do you see yourself as the next ‘Dragon’?

Thinking of being your own boss?

Being self-employed or starting a small business can be an attractive option.

Nearly four million people in Britain are self-employed and the numbers are growing all the time.

Self-employment can offer flexible working hours, an opportunity to do something you enjoy and are good at, and a chance to be your own boss.

The early stages can be the most difficult, when you are finding your way and income may be irregular but, if you get it right, being self-employed can be more exciting, rewarding and challenging than working for someone else.

Government provides a lot of really good information about becoming self-employed or starting your own business.

You can access this on the following websites: England - www.gov.uk/browse/business, Scotland - www.bgateway.com and Wales - www.business.wales.gov.uk The ‘StartUp Britain’ website - www.startupbritain.org/ - brings together links to commercial websites offering advice, help and services to new businesses. Also try entering the following: ‘How to start a …. business’ into any search engine and you will find a lot of websites offering information and advice. Do take care though to make sure the advice offered is genuine and check if there is a cost involved.

Is it for you?

Becoming self-employed or getting started in business doesn’t always need qualifications so if you are selfmotivated, determined to succeed and prepared to put in the time and effort needed it could be right for you.

Getting started – what do I need to think about first?

To get started in any business you need to have a plan. This means thinking about all the things involved in setting up. For example: •

Is there a gap for your product or service?

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How much money do you need to fund your new venture and where will this come from?

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You might be using a loan from family or friends or a loan from the bank.

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How will you make sure your products and services are what your customers want? You want them to keep coming back.

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What equipment do you need?

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Do you need premises or can you work from home?

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Do you need to employ people?

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Have you considered Franchising?

Taking on a franchise can be an option worth considering if you want to run a business but don’t have a specific business idea or if you prefer the security provided by an established concept. In the right circumstances, taking on a franchise can give you a head start. Instead of setting up a business from scratch, you use a proven business idea.

Typically, you trade under the brand name of the business offering the franchise, and the established franchiser provides help and support in return for a fee or a share of your profits. Before taking on a franchise, it is important to research the business carefully so you know what it offers you and what you will be expected to do in return.

Consider carefully how much finance you will need to invest.

As well as the Business Link websites the following organisations offer advice to help you decide if franchising is the best option for you – British Franchising Organisation - www.thebfa.org/whatis.asp and whichfranchise.com - www.whichfranchise.com/resources.cfm

Registering as self employed Whatever the type of business you start up you will need to register your business with the appropriate organisations. You can register your business either online, by telephone or by post and to avoid incurring any penalty costs you are advised to register your business as soon as possible: •

Register as self-employed with HM Revenue & Customs

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Obtain permits and any planning permission from your local authority

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Contact your local authority to see if you need to pay business rates

Business Link and HMRC have developed a useful tool on the Business Link website to help you register for tax and national insurance.

How can Jobcentre Plus help you start up on your own?

The New Enterprise Allowance (NEA) The NEA will help unemployed people who want to start their own business. It will be available to people who have been claiming Jobseekers Allowance for six months or more. It will provide access to business mentoring and offer financial support up to around £2000.

Enterprise Clubs Enterprise Clubs are run by local organisations and provide unemployed people interested in self-employment with a place to meet and exchange skills, make contacts, share experiences, receive support and encourage each other to work through their business ideas. Your Jobcentre Plus adviser will be able to tell you whether there is an Enterprise Club running in your local area.

Recruitment advice If you need advice on taking on a new member of staff, Jobcentre Plus has a network of recruitment specialists who can provide advice and help finding the right person for your job call 0845 600 2001 and select option 2.

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Who can give further advice Banks The services offered by banks vary greatly and so do the fees they charge. Some banks have special teams who handle business accounts. They may also have useful information for start-up businesses. It's a good idea to shop around for business banking services, for example, by using a financial comparison website.

The British Bankers Association has a website that can help you find the business account that suits you. For more information, go to: www.bba.org.uk.

British Franchise Association A2 Danebrook Court, Oxford Office Village, Langford Lane, Oxford, OX5 1LQ Tel: 01865 379892 Fax: 01865 379946 E-mail: mailroom@thebfa.org Website: www.thebfa.org The British Franchise Association (BFA) is the trade association for franchising companies. It was set up to promote franchising and establish standards. To join, franchising companies have to show that their franchise works and they have to agree to abide by a code of ethics designed to protect franchisees.

The BFA produces an information pack (ÂŁ29 including postage and packing) for prospective franchisees which includes a list of checks to be made before buying a franchise.

Business and Self Employment (England only) Business Link is a free, government-funded business advice and support service for businesses in England, available online. The website contains detailed information about setting up and running a business. It also has information about local sources of help with business advice. www.gov.uk/browse/business Chambers of Commerce A Chamber of Commerce is a local network of businesses. It can provide information, advice and training to businesses in your area. Most give free advice to members, but charge for services to non-members. Some Chambers of Commerce serve particular ethnic minorities.

Co-operatives UK Holyoake House, Hanover Street, Manchester, N60 OAS Tel: 0161 246 2900 Fax: 0161 831 7684 E-mail: info@cooperatives-uk.coop Website: www.cooperatives-uk.coop Co-operatives UK is the central organisation for co-operative enterprises in the UK. It is member owned and led, and works to represent the interests of its member co-operatives. It provides a wide range of support services to its members.

Disabled Entrepreneurs Network (England and Scotland only) Website: www.disabled-entrepreneurs.net The Disabled Entrepreneurs Network is a regional networking service for disabled people. It provides advice and support for disabled people who run their own business or who want to set up in business.

P a g e |4 HM Revenues and Customs (HMRC) Partner Products and Services HMRC know that most Small & Medium Enterprises want to get things right but may need help to do so. We particularly want to help customers as they face key business life events, including starting in business, taking on an employee, registering for VAT, importing/ exporting and incorporation. https://issuu.com/bgcareers/docs/products_and_services_v_160115_agm_ LiveWIRE England and Wales Livewire, Hawthorn House, Forth Banks, Newcastle-upon-Tyne, NE1 5JG Tel: 0191 261 5584 Fax: 0191 261 1910 Website: www.shell-livewire.org Local Authority Economic Development Units Some local councils have set up units which give advice and help to businesses in their area. Some have bilingual advisers and are intended particularly to help ethnic minority small businesses. They tend to be mainly in inner-city areas. The advisers are employed by the council and will usually have a business background or related skill, such as banking or accountancy.

National Federation of Small Businesses England and Wales Sir Frank Whittle Way, Blackpool Business Park, Blackpool, Lancs, FY4 2FE Tel: 01253 336 000 Fax: 01253 348 046 Website: www.fsb.org.uk The Prince’s Trust England and Wales 18 Park Square East, London, NW1 4LH Tel: 020 7543 1234 Freephone helpline: 0800 842 842 Fax: 020 7543 1200 Website: www.princes-trust.org.uk

BG Futures: Careers, Employability and Enterprise Resource Centre The Resource Centre has a section on Enterprise which includes books and resources on business start-up and selfemployment.

Advice You can book a one to one appointment with The Business Development Manager who can advise you on selfemployment and business start-up. Go to the Resource Centre to collect a one to one appointment booking form or email bgfutures@bishopg.ac.uk.

BG Futures: Careers, Employability and Enterprise operates in accordance with the University Diversity and Equality Policies.

If you require this document in an alternative format, for example in large print, please email us at bgfutures@bishopg.ac.uk For more information go to the BG Futures: Careers, Employability and Enterprise module on Blackboard or www.bishopg.ac.uk/careers