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Is now the time to start a company?

01/09/11 8:16 AM

The economy is going through a tricky time at the moment. Consumer confidence is not particularly high. However, wouldn’t a second income be quite handy at the moment? This is not the point where I tell you can earn £5000 a day by sitting at home doing nothing, nor is it the point at which I say go and write a business plan and get a bank to lend you £5 million. This is the point at which I say “why not start a little business on the side to earn some extra cash”. Most people at one time or another have come up with a business idea. They have spotted something annoying or frustrating and thought how they could solve it. Why not take that idea one stage further. Write a business plan, have a look at how you are going to market yourself. See how much money you need to get going (you may not need much at all) and go from there. If you form a limited company then you are separating yourself and the business so you have limited liability. You do have certain responsibilities as a company director and you need to be aware of those. My key point however is, look at starting that business today, it doesn’t have to make you a millionaire overnight but it could give you and your family a little extra income and also give you something new and exciting to do.

 

Posted by Optimum | in company formations | No Comments »

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