Benifits and self employed!

DELBERT

HI

I have a small business and want to increase it, but I also work full time to pay the bills, is there any help you can get out there whilst trying to build a business up, so I can leave full time employment and dedicate full time to my own business which does make a small amount of profit but not enough to draw income from as yet.

Any suggestions welcome

Pennywise

DELBERT wrote: »

HI

I have a small business and want to increase it, but I also work full time to pay the bills, is there any help you can get out there whilst trying to build a business up, so I can leave full time employment and dedicate full time to my own business which does make a small amount of profit but not enough to draw income from as yet.

Any suggestions welcome

You're not the first and won't be the last in this position. No, I don't know of any help you'll get.

People normally just work all spare hours (evening and weekends) to build up their businesses and usually get family/friends to help out when extra hands are required or to answer the phone whilst you're at work.

I don't suppose your current employer would let you go part time or whether you could give up your job and get a different part time job?

The good thing is that lots of people do get through it and prosper.

Your main problem is covering your household costs once you give up the day job. You need to really cut down on your spending (essentials only - forget meals out, xbox games, dvds etc for a while). If you're married, see about your other half doing overtime to help increase household income. Forget the new iphone, car and holidays. Cancel the sky sports subscription.

You may be able to get a relatively small unsecured bank loan to help tide you over. Or look towards interest free credit cards. You just have to keep in control of your spending and borrowing, limited to essentials only.

It's a pain barrier that you'll just have to work through. No easy answers, and no govt grants available.