The number of self-employed people in the UK has grown over recent years, from 3.3 million people in 2011 to 4.8 million in 2017. With numbers expected to rise over the next few years, we can start to look at why people decide to leave permanent employment in favour of becoming their own boss.
Starting your own business and becoming a limited company director is a big step and sometimes it can feel like you’re going it alone. A helping hand when you need it most can make the world of difference to your transition from an employee to a contractor.
But help is at hand: we created our guide to starting a business to make sure you’re fully prepared for the changes ahead and equip you with all you will need to get your company up and running.
Before you become a contractor, you should consider the following points:
Running your own business can be a fulfilling experience, but takes hard work and dedication. In order to be successful, you will need hard work, dedication and a lot of planning.
Consider the main aims of your business and what you hope to achieve. This could be a personal ambition, providing a new service to your market or a particular financial gain.
If you have any questions about setting up your limited company or your responsibilities as a director, our experts are on hand to help.
Most businesses do not turn a profit instantly - it can take a long time and a lot of hard work to make your business a success. You should set a realistic expectation of your expected profits and the level of remuneration you expect to achieve from the offset.
You should also establish how much capital you need to invest in the business and whether you will require any financial aid.
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Appointing an accountant can save you time and stress when starting up on your own. If you would like to speak to someone about any of the above information or any other queries you may have, arrange a callback and a member of the team will be in touch.
If you're already a client of ours, you can speak to your dedicated accountant directly.
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