dottyanne's debt diary

Verbatim

Hi Dotty Anne,

Businesses do take time to establish but many more fail than succeed. I suppose you have to be realistic and work out if there is a longterm future in what you do. Do you have to have a shopfront, I mean do you get alot of customers through having it or could you operate from home?

Is there a lot of competition for what you do or a great demand for your services? Is it likely to be a field where you'll ever make a good living?

It sounded as though generally things were getting better for you until very recently but if that's not accurate it might be an idea to establish a "game plan". Decide how long you'll give it or how much debt you're prepared to run up to give the business time to establish. Perhaps it's important to have a line drawn in the sand to mark the limits...... "If it's not working by then or we go over that amount of debt it's time to cut our losses" sort of thing.

I do know how exciting it is to have your own business and not to have an empolyer but also how scary it is!

System

but my hands are tied as it's not a decision I can choose to make on my own - I have to have my OH agree with me - I speak to him about it EVERY day but he's just hoping that Christmas will sort us out as usual

I agree in principal but is he having the sleepless nights and headaches that your having? I think your husband is very lucky to have you.

dottyanne

Hey - maybe a small breakthrough today - weve agreed to look for jobs and post our cv's online - i think he's beginning to accept that although the business is a good idea in principle - its costing too much to run and not making enough money - im still working on him but i think im getting somewhere - fingers crossed

dotty xx

*zippy*

Hi Dotty

Sounds good you both posting your CV's, hope something comes of it for you. Didn't you say you had a good job before you started the business? It will be so must easier for you if you have at least one regular income. Perhaps If you find something, rather than give the business up you could run it from home in the evening, it might make your DH feel better not to lose it completely.

Fingers crossed for you

zippy x

dottyanne

The main problem is the cost of running the shop, after that and stock we are always never making enough, OH was on about £34k and i was on just short of £16k before this self-employment - now were lucky if we can take £200 out a week between us - so u see why were up to our eyes in it!!

dotty x

*zippy*

Thats a big drop in income dotty, can I suggest you register with some agencies as well as checking out the job centre. A couple of people I know trying to get back to work after having kids etc have had no problem getting regular work through agencies and this has led to permanent job offers.

zippy x

dottyanne

Hiya Zippy - well fortunatly hubby has vast experience and qualifications in his chosen field so i dont htink it would be long before he is snapped up! Were both going over and updating our CV's today and posting on all releveant job sites aswell as forwarding applications. Good news i think about our shop Lease, this has another 12 months to run however it says in there that we can cancel if giving a months notice - however i have a solicitor friend who i will get to check this out for me in case im reading it wrong..........feel such a huge relief, i know things may be tough until we both get jobs but i am SO glad were not going to be working for ourselves anymore - i have to stay positive tho. Dunno weatther to give notice on the shop NOW or wait until we both get a job - what does everyone think?

dotty xx

*zippy*

Really pleased for you Dotty :j

If it is only a months notice, I think I would wait until you are sure one of you had a job, the other one could then wind it down or if you both got jobs at the same time could you just close it and pay the one months rent out of your salaries.

Do you have alot of stock to get rid of, could it be ebayed if you had to close the shop quickly?

dottyanne

well to be honest theres not that much stock - a good dose of e-bay or a one-off computer fair/car boot would probably get rid of most of it. I really, really hope we get sorted out asap - it would make my christmas if we were both in full time employment by then. Hubby will prob get a lot more than me and tbh i dont fancy going back to office work but needs must im afraid.

dotty

*zippy*

Do you enjoy you cleaning job? There seems to be good demand for cleaners in my area and they are charging £7+ an hour. I have one customer who does it full time and says she is inundated with work.

It all sounds really positive for you, you both have good employable skills, you can quickly get out of the shop and get rid of the stock, it will a great fresh start for you both and a huge relief i'm sure.

Very excited for you :T You really deserve some good luck

zippy x