Self Employed info

[axel132132]

Hi all

I have just qualified in January of this year, i was working for a company that has now gone under. This is the 3rd company i have worked for that has gone bust recently.

I am wondering if anyone has been self employed and whether going self employed is a good idea, obviously the pro's are working for self being own boss etc.

What is the best way of getting work do you think? Would it be advertising in yellow pages or posting leaflets out or what ways do you find most successful. I have my own website Unicorn Electrical

The other issue is with just qualifying i've never had to design anything before, im going to buy NICEIC Domestic Installer so that i am part P.

Im new to all of this so any info would be greatly appreciated

Kind Regards
Dave

 

[Guitarist]

What do you mean by "qualified"? What qualifications do you currently hold?

 

[axel132132]

4 year apprenticeship NVQ C&G
AM1 + AM2

 

[Guitarist]

4 year apprenticeship NVQ C&G
AM1 + AM2

Depends what type of work you want to do really. If you want to do non-notifiable domestic work then as long as you are competent then go for it. If you would like to start out on your own and be able to sign-off your own notifiable work then you will need the 17th edition C&G qualification too. Once you gain that, you can apply to join a part P scheme. You will also need a calibrated MFT or separates, £2 million public liability, a suitable job to show the part P scheme assessor, along with tools you may not possess etc.
Pros of being self-employed.... you set your work hours, charge what you think is acceptable and you answer to yourself.
Cons.... No guarantee of income, lots of grief, sorting out your own Tax (or finding an accountant to do it for you), phone can ring at any time, NO clocking out and forgetting about work

 

[axel132132]

Whats the best way people find of getting the work?

 

[topquark]

Other trades, local builders, friends/family referals (none of them cost you, well friends/family might a bit ).

 

[telectrix]

well, it's not yellow pages for sure. shed load of cash paid out for zilch return. better ... local advertising, word of mouth, flyers into every letter box within 5 miles.

 

[Darkwood]

Just a little note! .... the firms that are going bust that you have worked for may be giving you clues as to the wor climate, what could you offer that is going to be different to these firms and is the buiness out there for you to pick up... i went self 3yrs ago but i have a niche in industrial, machinery etc and as the domestic market collapsed i wasn't hit as hard, with the euro issues looming and the cost for the banks to borrow money thus less to lend out or higher interest rates lends to a difficult time to set up.
Personally id give it a few years till it picks up in the building trade before making that leap, unless you have a different angle or a skill thats sort that makes you different from other sparkies. This is just my opinion but not all about advertising it about the global economy, the bank interest rates, goverment policies etc all have a large effect when the country in a recession for the second time.

 

[axel132132]

The other issue im finding atm is getting another job to be fair, no one is taking on but i could always charge less than companies but still make enough money an average of like £400 / month would be good enough really

 

[Mr Magoo]

If i was you i would consider adding a landline number to your website and address,just a mobile can look suss,as for going self employed good luck with that,been there got the the t shirt as they say,in current climate its a mugs game.Good luck with it.

 

[Darkwood]

You will be supprised but you will need to cover lot more than that, you have P.I. insurance, P.L. insurance, travel costs, no holiday pay, accountant costs then using your own vehical will up the repairs fuel and insurance on it; look at doubling that £400 easily, if you work from home with no work premises to shell out for that is.
Then cash flow, you need cash flow or you will fail very quickly customers dont like paying until jobs done.
If the company isn't making profit it may take years to bring the company down but cash flow will take you down in months.

 

[JONO22]

well, it's not yellow pages for sure. shed load of cash paid out for zilch return. better ... local advertising, word of mouth, flyers into every letter box within 5 miles.

Totally agree with this I spend quite a few penny’s with yellowpages and nothing
Concentrate on your door step and work out as this is where your time management and profit will be best allocated
I have been working on my own for 6 months but still onlyhave 3 days working and 3 days selling
And I was in sales for 16 years
I wouldn’t change it for anything as I can’t make myself redundant can I
Good luck and keep knocking and posting if you’re good itwill happen for you :leaving:
http://www.evolutionelectricalsolar.co.uk

 

[Guest55]

4 year apprenticeship .......

Has a nice ring to it that phrase , dont hear it mentioned much these days sadly.

 

[sedgy34]

Hi all

I have just qualified in January of this year, i was working for a company that has now gone under. This is the 3rd company i have worked for that has gone bust recently.

I am wondering if anyone has been self employed and whether going self employed is a good idea, obviously the pro's are working for self being own boss etc.

What is the best way of getting work do you think? Would it be advertising in yellow pages or posting leaflets out or what ways do you find most successful. I have my own website Unicorn Electrical

The other issue is with just qualifying i've never had to design anything before, im going to buy NICEIC Domestic Installer so that i am part P.

Im new to all of this so any info would be greatly appreciated

Kind Regards
Dave

you have seen 3 companys out they must have paid you too much for what you can do lol

 

[Mr Magoo]

The problem at the moment is there is too little work around being chased by too many sparks,you then have a dog eat dog situation where it becomes survival of the cheapest,you may tell yourself different but believe me when you aint done a job for a few weeks you got bills to pay and the mortgage is due the temptation to undercut in order to win the work is there,only to realise when you have done the work and got paid (assuming payment is forthcoming at all)the job wasnt worth doing for that price in the first place.

I was NIC registered self employed sparkie for 5 years so i can speak from experience,going back on the books was the best move i made,self employed aint all its cracked up to be lads.

 

[sedgy34]

The problem at the moment is there is too little work around being chased by too many sparks,you then have a dog eat dog situation where it becomes survival of the cheapest,you may tell yourself different but believe me when you aint done a job for a few weeks you got bills to pay and the mortgage is due the temptation to undercut in order to win the work is there,only to realise when you have done the work and got paid (assuming payment is forthcoming at all)the job wasnt worth doing for that price in the first place.

I was NIC registered self employed sparkie for 5 years so i can speak from experience,going back on the books was the best move i made,self employed aint all its cracked up to be lads.

well said mr magoo!! however the term dog eat dog really annoys me :boxing_smiley:

 

[Mr Magoo]

Sorry,i do have another way of putting it but swearing aint allowed.:tt1:

 

[alarm man]

The other issue im finding atm is getting another job to be fair, no one is taking on but i could always charge less than companies but still make enough money an average of like £400 / month would be good enough really

£400 a month is pocket money not a wage..the uk will be a third world country if people charge that

 

[Guitarist]

The other issue im finding atm is getting another job to be fair, no one is taking on but i could always charge less than companies but still make enough money an average of like £400 / month would be good enough really

If you make less than £400 a week you will go under as a sole trader.

 

[Steve_P]

There's companies in London charging more than that a day!