zeggy asked:
I have quit my job, childcare issues and all that and want to start my own business as a self employed bookkeeper. I have my AAT and 10 years experience within accounts – working at a chartered accounts, managing our farm accounts and employee payroll. I am currently doing courses on Sage Accounts and Payroll and am a student of the ICB. I think I’m qualified enough??
I am already self employed though as my hubby and I run a farm, can you be self employed doing two different things. Do I have to have public liability insurance/legal insurance to cover myself. I already have some people interested in me doing their books and VAT returns for them but I want to do it all properly.
Any advice???
I have quit my job, childcare issues and all that and want to start my own business as a self employed bookkeeper. I have my AAT and 10 years experience within accounts – working at a chartered accounts, managing our farm accounts and employee payroll. I am currently doing courses on Sage Accounts and Payroll and am a student of the ICB. I think I’m qualified enough??
I am already self employed though as my hubby and I run a farm, can you be self employed doing two different things. Do I have to have public liability insurance/legal insurance to cover myself. I already have some people interested in me doing their books and VAT returns for them but I want to do it all properly.
Any advice???
Thanks in advance!!
My current job involves mostly weekend work and childminding for both my children costs me more than I am earning, hence jacking the job in.
My eldest is at school fulltime and my youngest at preschool mornings and going fulltime school next September so my days are pretty free. Also a night owl and do the farms books and my courses at night anyway so working in the evenings when they have gone to bed is not a prob either.
Thanks though good point!!
Go to your local Business gateway/Enterprise, they do great start up advice on everything you will need. They will also help you with a business plan, and you may even be enttitled to a grant.
Good Luck in the future and hope it works out well for you
Contact your local enterprise trust for business start-up advice.
They will advise you on how to get free advertising; how to draw up a business plan..very important when starting up on your own.
They may also offer free courses such as Sage I see that you are already doing a course for this. However they may have other courses that they could recommend that you go on.
The business start-adviser will be able to tell you all you need to know about insurances etc.
You seem more than qualified and with a vast amount of experience behind already. I am sure that you will find more than enough willing takers to employ your services. However, it would be advisable to still undertake your own market research to see if there is the call for the services you have to offer.
Perhaps your husband will be able to point some clients your way with all the contacts he must have. You could also try simple things such as putting an ad in the local post office or paper to see what level of response you get. And remember fliers through the door work wonders.
I hope you make a go of it you certainly sound confident and suitably qualified. Not that this important as long as you have portfolio of work which you do.
Meantime have you given any thought as how you will arrange your day if you already have childcare issues. It’s just that people forget this aspect of working from home and find that they get bogged down with other issues during the day. And come night time they are often too tired to do the work they has proposed to do during the day.
All the best.
If you intend on operating two different trades through a partnership (The farm) then you are in dangerous territory when it comes to Mr. Taxman………..
My advice would be to go and see a local accountant and get a free initial consultation with him on the best way to approach this scenario from a tax point of view……..
It may be more beneficial depending upon levels of profitability to become Limited and draw any cash as part dividends and part salary………Or it may be beneficial to become a LLP with your other half……..Both of these avenues protect your assets in the eventuality of any nasty incidents…….ie. getting sued and not having any liability insurance………On the topic of insurance, this can prove very costly and in some cases is not necessary unless you intend on representing your client’s on a more formal basis…….ie. to Mr. taxman………For instance if you intend on assisting them and let them take responsibility for their own figures then thats their prerogetive or you could do everything and put YOUR name to it !
Whatever you decide………
Good luck
First off, I’d recommend getting started doing people’s books. That’s how I started in business. (I’m in another industry completely now.) I had only high school accounting. My clients simply needed someone to organize and take care of the paperwork so they could run their business.
Secondly, I don’t mean to be rude to other answerers but I wouldn’t waste my time making a business plan. It sounds like all you want is some extra income while raising your children. The ONLY reasons I’d go to a local business help is to get your licensing and some free advertising. FYI: Some municipalities use this service to monitor small business mostly for the purposes of taxation.
Third, my advise for insurance is this: when you start making money, start looking into insurance. It may sound irresponsible but think about it. If you have very little what lawyer will advise their client to go after you? That being said, I’d make it clear that a certified accountant must file tax returns.
This is what I’d do. Depending on your risk tolerance, you may want to go another direction.