Working for myself?

Sarah1971

Hi everyone,
(not 100% sure this is the correct forum for this post- please let me know if it isn't?!)

I've read through lots of the posts on here over the past few months and there's some really excellent advice on setting up your own business etc.

I'm currently working part time as a manager(Finance/Admin)for a small company, I love the job and I have gained so much experience from it. Unfortunately it looks like redundancies before the end of the year (and possible closure!) and I want to try and prepare myself for it now by going self employed whilst still working for them part time.

I would just like some of your opinions really as to whether I actually have a good value for money service to offer? I have lots of experience in accounting and have worked for some multi national companies (although never went any further than intermediate level with CIMA, and I don't want to study anymore!), I'm a whiz on excel and a great problem sover.

I was thinking of contacting companies who are advertising for staff offering my services (maybe just in the short term to start?) doing some accounting and spreadsheet/datbase work, maybe some credit control, help with tax returns or anything along those lines? I would charge around the going rate.

Do you think that companies would be interested in this sort of service or would I be going about it all the wrong way?

I'm not looking to make my fortune from this, just enough to be able to pay the bills and support my children. The idea of being home based and working as many hours as I want to really appeals to me.

Any advice would be gretaly appreciated!

Thanks

Sarah

jellycat40

As far as I am aware there is a huge shortage of book keepers and accountants for small business'. You would need to see who else in your area was doing it and what they charge and take it from there.

You would also need to advertise locally so cost that in.

Louise

Savvy_Sue

You could also offer your services to small local accountancy firms. I did a few jobs for one chap, just entering the hand-written accounts into the computer. Deadly boring but paid well!

MalcolmCooper

As a small business owner I would say a resounding yes!!! There is lots of such work to be had and I have someone just like you describe. He wasn't easy to find though. Put yourself in the Yellow Pages under accountancy & bookkeeping services as well as the other things mentioned and I think you'll soon find yourself having to turn work down.

increasedmiles

As a qualified accountant who was just recently asking the same question, I think you will find that there are always people looking for people with your skills. It can be a little hard working from home as these people will tend to keep records on site etc. but how exciting is it to work at different places!! You'll be able to choose when you work and fit it around other commitments. The other advice is great but yellow pages can be a little expensive if you've not started earning yet. Have you thought about local agencies. Your paid through them but it could give you some temp work, which then gets you into companies and talking to their management. Leaflet dropping in areas where small business' could be good, though inexpensive the return can be low. It can be daunting but why not try just popping into some small local firms and introducing yourself and asking to speak with a manager?

Lawbag_2

there are a lot of small companies out there that want high quality accounts being prepared but cant afford a full-time accountant - go for it.

I havent looked back

Kilty_2

Sounds like a cracking idea, as said above, there's plenty of small business who can't afford a full-time accountant so they'd be looking to outsource accountancy work on a freelance basis.

As well as the marketing ideas suggested, make sure you get a clean, professional website set up to make a good impression to your potential clientele.

Edinburghlass_2

I have done this for a number of years. Initially with a couple of clients I went out to their business on a weekly basis, some small ones only brought their carrier bag of receipts to me once a year.

As someone earlier said its also good to get out to different work places, good if you can find a hairdresser to get your hair done for free Sometimes it suits me better to bring work home and I used to do a lot of it in the evening when my daughter was small.

If you have a free paper try a small weekly ad in that or even a card in your local shop helps.

joggyb

just a quick word of caution - do check that your current employment contract doesn't include a non-compete provision, otherwise you might land yourself in trouble.

other than that - go for it! good bookkeepers who charge reasonable prices are much in demand, esp. by small/new businesses who don't necessarily have a great deal of money to spend on such services. If you've got other skills to boot - i.e. you say you're a problem-solver - then that's added benefit/value you can offer which will make you even more appealing to your target market!

Sarah1971

Thanks for all of your replies! I'm going to mention it to my employer tomorrow, hopefully should be ok - especially with the possibility of redundancies in the near future.

I've already drawn up a spec letter that I'm going to try out on some potential customers and I've ordered some free business cards to slip in with the letter.

I'll then move onto placing a small ad in the local newspaper and see what response i get from that?!

Thanks again

Sarah

Lawbag_2

I currently hold a full time job and look after 3 ltd companies and one sole trader.

It doesnt interfere with my normal work (the companies are not rivals), and to any future prospective employer it looks good because you are trusted by so many.