This article in the Times Online caught my attention, apparently research carried out by YouGov found that 45% of would be entrepreneurs are put off by the legal requirements involved.
Their worries included failure, employment law and tax.
Hey that’s easily dealt with, failure can be one of the best ways to learn, ask any ultra successful entrepreneur, most of them have failed at least once, or twice, before hitting the big time, but not to belittle this fear, one way to reduce your risk is do your homework, and maybe start your venture part-time, the
small business infrastructure can help you there, combine this with a firm of accountants who are also business advisers are your part way there. I don’t wish to make it sound simple because running your own business is anything but, however, the fears these people have are easily dealt with by the use of professionals, like ourselves.
Employment law, hmm, this is a huge area, never mind we will give you the details of the specialist who advises our clients, she will soon sort you out!
Tax, well I am afraid it has to be paid, like it or not, but as long as you choose the right advisers to partner you, you will be fine, and they will go through this hugely complex area with you, again and again, well at least every time they tell you what your tax bill is and you reply “It can’t be, I didn’t earn that much!”.
But seriously, most of the fears people have are understandable, but they are also easily dispelled through the use of advisers, after all that’s what we’re here for, to let you do what you do best in running your business, and let us do what we do best, dealing with the ‘crap’ that comes with our clients running their businesses here in the UK.
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