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    • bennyB
    • By bennyB 5th Oct 17, 1:14 AM
    • 1Posts
    • 0Thanks
    looking for a small grant/funding (jobseeker)
    • #1
    • 5th Oct 17, 1:14 AM
    looking for a small grant/funding (jobseeker) 5th Oct 17 at 1:14 AM
    Any advice would be very much welcomed.
    I am currently forming my own business as a limited company & looking for some kind of grant.
    A month ago I lost my job as a design consultant, my usual field is Architecture and whilst registering with specialised agencies, over the last day or so I have been offered a vacancy with a local architects practice on the condition that I create my own limited company so I can work alongside the company as and when, this also means i would need to provide a laptop, Cad package licence (for myself) and other on site measuring tools/equipment, this is where I need help with some kind of funding/grant, Iíve also been told apparently when freelancing the limited company idea is the way forward, would anyone know of any funding or guidance/help, many thanks
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    • trailingspouse
    • By trailingspouse 5th Oct 17, 9:50 AM
    • 2,680 Posts
    • 4,368 Thanks
    • #2
    • 5th Oct 17, 9:50 AM
    • #2
    • 5th Oct 17, 9:50 AM
    Are you actually wanting to become a freelancer?

    If so (and it's a major step), then setting up a limited company is certainly one way to go about it. There are also umbrella companies, and you could just register as a sole trader. Each way of doing it has pros and cons.

    Before you make any decision, you need to make yourself aware (if you're not already) of something called 'IR35'. Google it. It's basically the Inland Revenue pointing out that if you look like you are employed (rather than self-employed), they will tax you accordingly, even if you say you're self-employed. It's the reason why the company want you to provide your own tools and equipment etc (a plumber is self-employed - you wouldn't expect to provide him with equipment if he came to do some work for you...). If they provide the equipment, it begins to look like you're an employee.

    There's a lot more to it than that!!

    Also, speak to an account about going down the limited route - it isn't appropriate for everyone.

    As to grants, loans etc, if you are setting up as a limited company, you will need a business bank account - looking for a loan from whichever bank you choose might be the simplest way forward.
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