From the course: Planning Your Career and Your Life
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Top tips for self employment
From the course: Planning Your Career and Your Life
Top tips for self employment
- I've been self employed for 22 years now and I've learned a lot along the way. I've got some big regrets. I've got some things that I happened to get right by pure luck. I want to tell you about my top eight tips for being self employed. And the first one is get a good accountant. I started out with a cheap accountant. I discovered after a few years when I changed to a better accountant, that my chief accountant had cost me thousands. I think he was costing me 3,000 or 4,000 pounds a year because he wasn't very good. So over a period of four years, he probably cost me between 12,000 and 16,000 pounds that I could have had. And a good account could be worth a lot more than that. So I would say tip number one, get a good accountant. They'll cost a bit more, they're worth it. My second tip is to set up as a sole trader or possibly a limited company. And you have to decide which. I resisted being a limited company for a…
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