TWT self employment.pdf

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the way to...
self employment
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Welcome
This workbook has been produced to provide you with useful information and advice on setting up
your own business.
When self-employment is seen as a possible option, the initial questions are often about the ‘How
to’ aspects of becoming your own boss, when they should include a number of ‘Why to’ questions.
The aim of this workbook, therefore, is to provide a balance between the ‘How’ and the ‘Why’ in
order to ensure the new venture gets off to a positive start. There is a wealth of additional
knowledge and expertise available to tap into, from a variety of other sources, much of which is
free of charge. This is just the beginning of the journey.
We suggest you take a few minutes to become familiar with the content of this material, before
working through it systematically in bite sized chunks.
Good Luck!
All rights reserved. No part of this publication may be reproduced,
stored in a retrieval system, or transmitted in any form or by any means,
electronic, mechanical, photocopying, recording, or otherwise without
the prior permission of Working Transitions.
© Working Transitions 2007
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Contents
Part 1 A positive option
3
Personal considerations
4
What is self employment?
5
Pros and cons
7
Motivators
9
Success
12
Swot analysis
16
Part 2 Starting up
18
Business formats
19
Setting up
22
Overview of the business process
27
Part 3 The mechanics
29
Organising the business
30
Your workplace
32
Equipment you will need
34
Setting up an office
37
Employing others
38
Professional advice
41
Record keeping
43
Insurance
45
VAT
47
Part 4 Marketing and selling
48
Marketing and selling principles
49
Selling
52
Market research
59
Pricing
64
Marketing
65
Advertising
67
Part 5 The business plan
68
Overview
69
Why have one?
70
Preparing your plan
71
Part 6 Further sources
81
Key contacts
82
Useful addresses
83
Helpful websites
84
Interesting books
85
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A positive option
Part One
Personal considerations
What is self employment?
Pros and cons
Motivators
Success
SWOT analysis
3
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