Requirements for starting out on your own

[douche]

Hi,

I've looked through quite a few of the business related threads and couldn't see anything that related to what you need (with regards to registering with regulatory bodies, NIC EIC etc) for starting out on your own. If this thread currently exists can someone point me in the right direction. If not, I've currently got a ltd company set up (PL & EL insurance in place), completed SVQ level 3 (apprenticeship) 16th Ed, 17th edition update, select testing and inspection (provided by a previous employer) & CompEX.

Slowly coming to the realisation that office life is not for me and would like to get back on the tools.

Any help would be much appreciated.

Cheers

 

[Octopus]

You don't have to go limited at first. Sole trader is easier

 

[douche]

Cheers. I've already got the Ltd set up as i'm contracting in the oil and gas industry.

 

[stefan]

Hi all you need is the qualifications your regular c&g electrical and the equivalent qualification to the c&g 2391 and £2m insurance about £100 a year and all the books ring nic EiC they come out to asses your work job done you are registered with them after you have paid them you then need to find an accountant good luck on ya adventure

 

[douche]

Thanks Stefan, so I need the 2391 Testing and inspection and then obviously some independent jobs under my belt for the NIC EIC to asses.

Cheers

 

[Octopus]

What you need to consider is can you survive financially, for up to 3 years on little income while you build your business up. Remember being SE means no sick pay, no bank holiday pay, no pension and many, many out of hours work.

Do you sums first matey....

 

[stefan]

Yes I went to napit think they are cheaper yes do some jobs filling out correct certs minor works etc make sure you have the latest reg book and your on your way but it is hard unless you already have customers advertising costs a lot but is not that good word of mouth is the best way to get work you need to find out what sparkys in your area charge and make sure your price is about the same don't under cut yourself on jobs

 

[douche]

Cheers, Ive been SE for the last 2.5 years although in a different industry. Will need to look into a few things like competitors rates and if its manageable (as you guys have pointed out) before i take the next step. This was just to get an idea if i needed any other certs ect. as i was always PAYE.

 

[Darkwood]

Depends where you want to work .... if Oil and Gas industry then ensure you insurance is aware of this and the 2million cover mentioned will not cut the mustard in said industry, you will need to see the terms of contract as to your cover if in this oil and gas, Im covered to 10million due to the nature of my work, some council contracts require this as a minimum.

If your work takes out a gas works then 2million won't cover the lunchbreak in legal costs.

 

[douche]

My PL is £10M and EL is £5M thats the minimum for offshore anyway so im guessing that would cover most domestic / commercial sites. Wouldnt mind staying in this industry to a point but it is mostly full of c***s, could do without that for a while.

 

[robsparky1975]

There will be plenty of previous threads to help you in your search,there is a search bar in the top right hand corner,type in keywords hit search,plenty to read through.