Starting a Contracting Business

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.

Lets talk

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.

What’s in the guide?

How to start a business - what do you need to know before setting up your own limited company?
Defining your mission statement - what is your business’s vision for the future?
Choosing how to operate - there are many different business structures, but which one is right for your needs?
Your business and the law - what are your legal responsibilities when it comes to keeping your business safe and compliant?

Is starting a business the right decision for me?

Before you become a contractor, you should consider the following points:

Are you suited to running your own business?

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.

What are your objectives?

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.

What are the expectations of your business?

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.