#Business “is going into Business right for me?”

Unemployment rising! Redundancies rising! Benefits being cut! Job satisfaction at an all time low! Wage freezes! And on and on.
It is easy to throw the towel in, and retreat under the duvet.
Or, think about an alternative, which is to use those under utilised skills that you posses and start your own Business.
Too much hard work, very involved, lots of red tape, no money, just some of the limp excuses that I hear.
Let us examine the facts. What must I do to start a simple Business? First you need an idea. Preferably something you know a bit about, but not always. An example would be myself, with 28 years senior management experience including General Manager at two of “Coca Cola Enterprises” subsidiary companies, I retired and faced my phobia of water, to become a Scuba Diving Instructor. I could not swim and was totally afraid of water. 8 months at Fleetwood Nautical College later, I had learned to swim, passed my PADI Instructor exams, and being paid to teach people to become Divers. How cool is that! The fact I then opened a 3,000 sq.ft. Water Sports Centre is a bonus. The course was subsidised and cost me £400. All equipment was provided.
So we have an idea.
Scuba Diving in Blackpool? Hardly the Barrier Reef? You miss the point, people did not learn to dive in order that they could dive in a quarry, they wanted the lifestyle, and exotic locations to visit. It was cool. So you research what people want. You liaise with a dive shop, and get them to let you teach on their behalf, even for free, to gain experience, and build a reputation. A client list! Word of mouth! Job done. So now we have an idea, a skill, an audience/client base and a place to operate.
Let’s do the legal stuff now. You ring HMRC, and register as a Sole Trader. Easy as that. 1 phone call. They will arrange a direct debit, class 2 NI contribution at £2.65 per week. You have no tax to pay until 2014!!! You are taxed on profit, not turnover.
We will cover Tax in a later Blog.
Business Bank Account to keep Business and Private separate. No excuses to confuse whose money it is, and ensure tax man kept happy.
Insurances where appropriate, liability etc. Only fools ignore RISK.
Borrow your kit from Dive shop in return for teaching their students, get them to fill your scuba tanks, hitch a ride on their truck, cost to you very little. Water to Dive in is often free.(Capenray near Lancaster costs but heh, great place to learn, and safe!)
Job done. You are a professional Diver! How Cool is that! I was 50 on the very day I achieved Professional status. You could not write this script.
Is it hard work, yes. Is it time consuming, no. Is it rewarding, yes.
You might not get rich quick, but it sure was a buzz! Are your pals in awe, you bet.
You can overcome fear and make a living. It is a risk, but the personal and financial rewards are their to take. Imagine this was you! This is a True Story, with many exciting stories to share with you another day! Adrenal filled experiences around the world.
Hope this help?
As always, Geoff Reeves, FYCreatives, Blackpool, 01253477147


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