Redundancy - a positive future?
Discussion
Guys, we need some good PH advice from you.
My other half, Happy Snapper was told yesterday that he is going to be made redundant in a month
So....looking poitively to the future we're thinking that this is the time for him to make the jump to going self employed.
He currently works as an IT consultant focusing on Call Centre technology, we live in Bristol but he is happy and willing to travel.
We're looking for any info regarding going self employed, whether to contact consulting firms etc. etc. and just advice and thoughts about how to make the break. I'm aware of some of the restrictions regarding contracting for only one company and that is very unlikely to be the situation.
As a starting point, he's going to need to do some work on his CV so if anyone is in that line of work perhaps you could drop him a PM?
www.pistonheads.co.uk/members/showProfile.asp?memberId=37315
Thanks
Piglet (and Happy Snapper)
My other half, Happy Snapper was told yesterday that he is going to be made redundant in a month
So....looking poitively to the future we're thinking that this is the time for him to make the jump to going self employed.
He currently works as an IT consultant focusing on Call Centre technology, we live in Bristol but he is happy and willing to travel.
We're looking for any info regarding going self employed, whether to contact consulting firms etc. etc. and just advice and thoughts about how to make the break. I'm aware of some of the restrictions regarding contracting for only one company and that is very unlikely to be the situation.
As a starting point, he's going to need to do some work on his CV so if anyone is in that line of work perhaps you could drop him a PM?
www.pistonheads.co.uk/members/showProfile.asp?memberId=37315
Thanks
Piglet (and Happy Snapper)
www.pcg.org.uk
Loads of info about taxation and personal service companies. Even examples of IR35 friendly contracts.
Loads of info about taxation and personal service companies. Even examples of IR35 friendly contracts.
Do it.
I actually jumped when facing redundancy 3 1/2 years ago. (I found a contract before I was told whether I would be made redundant, and therefore missed out on the package!)
Since I went freelance, I have loved it. It's tough, but good. Having a wife with a stable income is a great asset.
Mail me offline if you want some more help.
Oli.
I actually jumped when facing redundancy 3 1/2 years ago. (I found a contract before I was told whether I would be made redundant, and therefore missed out on the package!)
Since I went freelance, I have loved it. It's tough, but good. Having a wife with a stable income is a great asset.
Mail me offline if you want some more help.
Oli.
zcacogp said:
Having a wife with a stable income is a great asset.
So not a girlfriend who is a trainee solicitor with no guarantee of a job in September and a bunch of student debts then!
I'm sure it'll be fine, after all I could do with losing a bit of weight... Thanks for the info so far - the PCG link is looking very useful.
Piglet said:
zcacogp said:
Having a wife with a stable income is a great asset.
So not a girlfriend who is a trainee solicitor with no guarantee of a job in September and a bunch of student debts then!
Thanks for the info so far - the PCG link is looking very useful.
Oooh, a trainee. Anywhere nice? Some areas are recruiting quite heaviliy just now, others aren't. I wouldn't worry about getting rich though, I stopped being a trainee severl years ago and am poorer now than I have ever been
>> Edited by Nevin on Thursday 3rd March 19:25
It's bloody hard work, and pretty scary, going it alone, but the rewards make it worthwhile IMHO. I got made redundant nearly a year ago. In my case, we were in the middle of an MBO and the company went bust (long story) so I technically walked out of one job and into the new business the following day, so it wasn't significantly different to the changes I was expecting to happen anyway.
If you've got the backing of a little cash in the form of a redundancy payout, it eases the pressure for a month or so whilst you get yourself off the ground. Has he got a list of potential customers? Have any of them made a verbal or written commitment to use his services? Either of those will ease the transition.
Pros of going it alone: job satisfaction, rewards commensurate with what you put in, go in the direction you want to, no-one to answer to
Cons: stress, risk, no-one to bail you out
Personally, it worked out for me (well, so far...). I wouldn't go back to working for someone else.
If you've got the backing of a little cash in the form of a redundancy payout, it eases the pressure for a month or so whilst you get yourself off the ground. Has he got a list of potential customers? Have any of them made a verbal or written commitment to use his services? Either of those will ease the transition.
Pros of going it alone: job satisfaction, rewards commensurate with what you put in, go in the direction you want to, no-one to answer to
Cons: stress, risk, no-one to bail you out
Personally, it worked out for me (well, so far...). I wouldn't go back to working for someone else.
Nevin said:
Oooh, a trainee. Anywhere nice? Some areas are recruiting quite heaviliy just now, others aren't. I wouldn't worry about getting rich though, I stopped being a trainee severl years ago and am poorer now than I have ever been
A bigish Bristol firm, I'm in litigation and hoping to qualify into property litigation. I went to one of the "approaching qualification" evenings the other week when they helpfully told me that there is a glut of litigators and I really should have stuck to commercial property!! I'm a mature trainee so need to play catch up in the salary stakes soon - I can't handle being this skint forever!
Got any jobs for September?
>> Edited by Piglet on Thursday 3rd March 19:51
Piglet said:
[quote=Nevin
Oooh, a trainee. Anywhere nice? Some areas are recruiting quite heaviliy just now, others aren't. I wouldn't worry about getting rich though, I stopped being a trainee severl years ago and am poorer now than I have ever been
A bigish Bristol firm, I'm in litigation and hoping to qualify into property litigation. I went to one of the "approaching qualification" evenings the other week when they helpfully told me that there is a glut of litigators and I really should have stuck to commercial property!! I'm a mature trainee so need to play catch up in the salary stakes soon - I can't handle being this skint forever!
Got any jobs for September?
[/quote] Hmm, I know for a fact that we're not keeping on a huge number of property trainees in the current rounds (i.e from Monday) although there does seem to be plenty of work (I do property finance and acquisition finance and am snowed under just now). A glut of litigators does seem unlikely though, although it could be Bristol specific if you aren't planning to move away.
If bf is being made redundant have you thought about London? Always work going here somewhere.
Nevin said:
Hmm, I know for a fact that we're not keeping on a huge number of property trainees in the current rounds (i.e from Monday) although there does seem to be plenty of work (I do property finance and acquisition finance and am snowed under just now). A glut of litigators does seem unlikely though, although it could be Bristol specific if you aren't planning to move away.
If bf is being made redundant have you thought about London? Always work going here somewhere.
Mmmm we're hoping to avoid the London route, the firm I'm with have an increasing Housebuilder base and I'm hoping that Housebuilders being what they are the prop lit work will increase. I've got my fingers crossed!
I was made redundant last April and sort of fell into contracting due to the first job good job I was offered being a contract.
I have enjoyed most of it so far but it can get a bit nerve racking when your contract finishes and you are looking for a new one. I have found alot of companies won't even consider you unless you are "immediately available". Also alot of companies put contract posts out to agencies which never actually turn into jobs.
In general I would say go for it BUT don't just write off permenant stuff until you have sussed out the market properly.
>> Edited by icamm on Thursday 3rd March 20:51
I have enjoyed most of it so far but it can get a bit nerve racking when your contract finishes and you are looking for a new one. I have found alot of companies won't even consider you unless you are "immediately available". Also alot of companies put contract posts out to agencies which never actually turn into jobs.
In general I would say go for it BUT don't just write off permenant stuff until you have sussed out the market properly.
>> Edited by icamm on Thursday 3rd March 20:51
simpo two said:Actually, a loving wife who is willing to put up with my rollercoaster-ride work situation AND love of cars and tinkering with them in all situations is the greatest asset I could possibly have!
Having a wife with a stable income is a great asset.
Where can I get one of those? Sounds expensive
No, seriously, one stable income to cover the bills is a safety-net I wouldn't be without. And an understanding partner is a must.
Oli.
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