Starting a new Business etc

[silopark]

This has probably been asked a few times before, but would like some advice if possible please.

I have been recently made redundant as a electrical-mechanical maintenance manager and was looking to maybe start up on my own. I have been doing electrical installation in domestic properties for 30 years or more and the ones that need to be signed off have had a mate sort it for me.

I have the 17th edition wiring regs from 2009 and various iosh certs.

Q1. If I wanted to start my own business, what should I go for, sole trader or limited company?

Q2. What training courses and certs would I need to do domestic installations and sign off's?

Q3. Would anyone know if there are any grants etc that can be applied for; for starting a new business or to help with training courses?

Q4. Could anyone recommend a decent training college in which to acheive the qualifications needed in the Leeds area

Any information would be greatly appreciated

 

[telectrix]

as you have your 17th, get in touch with elecsa ( or napit, niceic ) and get the info on joining ( assessment, annual fees etc, ). then you are good to go, once youve tooled up, inc. calibrated MFT, PL insurance, etc. i would start as sole trader until and if you build up to a point where being |LTD. is advantageous. don't register for VAT until and if your turnover exceeds the threshold, not sure about grants, try an organisation called business initiative.

 

[Octopus]

Sole Trader until you can make £30K clear profit per year, keep your turn over below £73K and you don't have to worry about VAT

Start by listing all the overheads you expect to have and its about £5K for a sole trader.

Invest in PC based certificate software and if you are a PC geek a business package like intuit quickbooks pro is worth while.

Loads of previous threads on here, do a search.

 

[silopark]

Many thanks telectrix and Murdoch for your quick responses, software not a problem and the wifes got her own bookkeeping business so thats sorted as well. I would look at doing a course for inspection & testing I think, Also would I need to look at doing the Part P or is this included in the 2394/5 course? Obviously I do not want to pay monies out for the sake of it but want to ensure I am doing everything right.

 

[markc123]

Part P is covered if you're registered with Elecsa or a similar scheme.

Part-P 'course' is in all honesty, a complete waste of time, space, paper, pens, classroom space, teacher wages, oxygen, life.

 

[silopark]

Thanks for all your help on this matter everyone.
Had to visit the job centre today and I asked them about maybe getting some training seeing as I had been made redundant recently and they are looking into maybe getting me some training on 2394/5, so I will see what happens at let you know how I get on.