Ever considered starting up?

Steve Pye, chairman of the Blackpool FSB branch.
Steve Pye, chairman of the Blackpool FSB branch.
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There comes a point in our lives that makes us look at our present situation, and consider making life changing decisions like going self-employed.

You may have a business idea or special skill or qualification that you have decided that you want to benefit from and not your employer.

Or have just been made redundant, inherited some money or have savings that could help you finance and set up your own enterprise.

Maybe you envy some of your ex-workmates who have gone self employed.

There are many reasons for people considering working for themselves, but to actually take the plunge requires the person to seriously weigh up the pros and cons of swapping the relative safety of a steady wage to an uncertain and volatile future in business.

Probably the biggest consideration is the effect on your family and lifestyle.

What if you couldn’t afford to pay the bills and mortgage? Have you got an additional income that would cover that?

Living through an economic crisis makes going self employed even harder. But that argument disappears when you see that most of the world’s top Fortune 500 companies were started during a recession.

Why not test the water first, before taking the plunge and start on a part time basis?

A business and marketing plan work just as effectively, for both a part time and full time business. That is assuming you have conducted extensive research on your market, competitors and customers.

Well-meaning family and friends will warn you not do it.

But if they have never run a business ignore them and speak to people that have!

You wouldn’t seek advice about swimming from a non-swimmer would you?

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