Going LTD and other advice

bowlingo

Savvy_Sue wrote: »

I was meaning to say the same: when you're getting new customers, you've GOT to make sure they're going to pay. If you think about it, you'd be in exactly the same position if the HA ceased trading.

Hi Sue,

As far as housing associations go etc the chances of getting money up front would be pretty much zero. Most have 30-60 day payment terms. Dependant on how things go I would look at factoring or possibly take the risk as long as I spread my bets as I never want to end up in situation I am in now i.e all my eggs in one basket. What I tend to do also is check on the companies house website to see how long they have been going. I have a friend that wont do anything for anyone who has been trading for under 2 years.

anamenottaken

pjclar02 wrote: »

You don't come across many electrician PLCs......!!

If you want to look serious and use all capital letters being a PLC would fit the bill.

Why wouldn't an electrician form a PLC if they wanted to have a limited liability company?

property.advert

If you are really up for it, here's what I would do.

Get together with some other trades and formulate a standard charging scheme that is easily understood. Incorporate under a collective name, such as All Weather Maintenance Ltd or whatever and dovetail your trades to build up business.

You can split the not inconsiderable costs of a professional website, not some rubbish you do at home and advertising. Do not use a non geographic number but an 020/030 etc. is fine.

As you grow you can add trades and multiples of the same trade who sub contract for you at rates you dictate, meaning you earn when they are working.

You will need some management and secretarial help and not an amateur either. It could be someone's wife to begin with but if you grow it will need to be a professional and more than one of them to cover 24/7/365 if you want to do emergency work.

BoGoF

anamenottaken wrote: »

If you want to look serious and use all capital letters being a PLC would fit the bill.

Why wouldn't an electrician form a PLC if they wanted to have a limited liability company?

Do you know the difference between a PLC and a Ltd company?