How do I go self employed? And is there any help, grants etc?

[NailTechGH]

Hi there,

I have done my level 2 and 3 in nail services. Entered several competitions where i have done pretty well. I started doing my friends nails from home when i started my level 2, when i was learning to do gel. The word spread over the next two years, i now have a good client base and am fully qualified. I finished my course in July 2009. I am still doing nails from home.. I am interested in opening a small premisis, but as i am working for myself would like to know if there are any grants that may be availible that anyone knows about? or if anyone has any information that might be of any help to me then please let me know.

I dont want to go and work for someone else where i will be making them money, also if i start working for someone else i will loose the good clients i have already.

Confuseddddddd!

Thanks

 

[Sparklepink]

why not look into rent a space in a salon, so you are still self employed, but get the benefits from being in a salon too

re grants etc.... there are people like the princes trust that maybe able to help you

when i first went s/e (after working full time in a nail salon perviously,) i rented space in a salon and my bank wouldnt not give me a loan... as i hadnt been trading for long enough (that was 8 yrs ago now) so i paid for my opening stock on the old credit cards.... no always the best idea.....

i have since changed banks when i opened up my salon (5 yrs ago), HSBC were fab and were able to give me a business loan to i was able to buy my lease etc...

looking back now tho..... i had far less stress when i rented space .... and rent wasn't expensive for just a desk as everything was all covered in my rent other than stock

if you are wanting to make the most pennies for yourself... then if you have a home based salon you you don't have the same over heads as a shop (which can be a lot believe me!) plus we are still in recession and it may not always be the best time to start up

a really good site for start up advice is
Business support, information and advice | Business Link

hth

Jess x

 

[chanails]

years ago when i was a single parent, the princess trust helped me set up they were fab, got a grant and a low interest loan, then they helped me with my books for the first 2 years, i used to work from home which i enjoyed but worked part time somewhere else, that lasted 2 years i was mobile too in the evening, then i wanted to go full time thats when the princess trust came in, back then you had to be under 25 i think with no other possible way of lending money, don't know what the rules are now. its hard work starting up from scratch but me working from home to start with built up a little client base (some still with me now) plus the confidence to go it alone, which was scary leaving my old job of 10yrs. i had a mortgage and was worrried that i wouldn't be able to afford it. but things are good, and i am very happy with choices i made. give the princess trust a call they are very helpfull x

 

[jes]

I started doing my friends nails from home when i started my level 2, when i was learning to do gel. The word spread over the next two years, i now have a good client base and am fully qualified.

So how would you describe your employment status at the moment? Surely you've been self employed for 2 years?

 

[ando4ka]

it costs nothing to register as self employed. just give HMRC a call. you can chose an option to pay national insurance contributions which is really some pennies a wekk, but it helps when you get sick for incapacity benefit or unemployment benefit and plus your pensions. because in this country to qualify for state pensions you have to have paid national insurance contributions for at least 30 years. plus it helps if a tax man gets involved.
i think you have to start paying tax if your income is over £5000 or £6000 a year. not sure about this but national insurance contributions is a good idea. it is safer and also a benefit for yourself.

 

[kirsty]

I went on a course on monday 'starting your own business'. They said the first £6,500 you don't pay tax on. Also national insurance you pay class 2 which is £2.40 per week and class 4 which is 8% of your profit.