leekemp85

I am an electrician working for a company in Derby i have been working there for the past six years including my apprenticeship i am now 22. I did very well at college and have continued to. I have also completed the PAT course and the 2391 testing course, I feel that I want to further my career and hopefully go self-employed but i haven't got a clue how or where to start. I know I will need part p but i am unsure what else i would need and how much it would cost or if this would be a bad time to even try? I am working for a very well known but small company with loads of work and weekly overtime and have been running jobs on my own for the last 18 months, I am currently on 10.06 a hour which is not a bad wage but i think i could earn more...but maybe not?
could somebody please help me

many thanks Lee Kemp

LukeScotty

Hello Leekemp, Thanks for joining electriciansforums. Sorry this is a late reply, its just I've been gathering the information for you, here goes:


You must nofity the inland revenue if you are setting up in business, within 3 months of commencing, if not, u can get a fine of £100 for being non compliant

Are you wanting to become VAT registered? I think its if your turnover is £61,000 you need to

Do you need an accountant? Most likey yes matey, because you may well spend money on a guy to do your books, and that person may well save you more than what you've paid him for. try and target the small accountant businesses

Quoting for a job, Cost of materials, Cost of overheads and your Salary. With your materials you may want to go to a number of local suppliers and negotiate trade discounts, and make sure you shop for the best deals. Also A good pointer would be to stock on the most common materials, You don't want to be going back for the same stuff all the time do you. Time is money

Travelling costs The Inland revenue rate 40p per miles is a reasonably accurate estimate.

Advertising Reputations is the cheapest way to advertise, so make sure you do a good job

Going limited setup cost £450, running costs are greater, accountant rates are higher. year end accounts are more precise

Extras which I think you should consider:
- Stationary, business cards, headed letters for quotes and bills
- Websites and Emails

Well I hope I've covered most of the stuff for you to get started. And I wish good luck to the furture.

regards Luke ( my fingers are now aching )

If You Build It, They Will Come n If it aint broken don't fix it!

Andy M

Try to get some labour only sub contractor work with some builders or other sparks so you have some regular work to start with.