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Monday 22 July 2013

Could you manage your own business?



Realistically, what is stopping you from achieving the life you've dreamed of? If you've wandered through jobs thinking that this is all your life could amount to, maybe it's time for a rethink.

The BBC have reported that there are '4.2 million people in the UK who are self-employed', and the number is growing. Even more interestingly, a percentage of this number is from those who have been claiming Job Seekers Allowance, and participated in schemes such as Leapfrog and the Princes Trust. The two case studies the BBC examined (and Amacus showcase) involve young people developing ideas based on things they're good at or that they enjoy - a great starting point for a solo venture!

If you don't shy away from hard work, you may want to consider this. What do you enjoy? What are you good at? If you're working, you could begin a side project for a little extra income, and feel your way with a potential transfer from your current job to your new venture. If it's not that successful, however, you still have a steady income.
If you're not working, maybe it's time to take the plunge?

Food for thought:

How much do you have to lose? Mortgages, children, loans etc. Can you afford to potentially lose it all?

Commitment is essential. Nurturing your business will take time and effort, much more than showing up for a 9-5.

There will most likely be tough times. Low custom, losses in profit, disasters and unforseeable events. Are you prepared for the bad?


 Leapfrog is a scheme run by Amacus UK, free to those over 19 who receive Job Seekers Allowance. The scheme provides access to workshops, coaching and job matching.

The Princes Trust is offered to unemployed 18-30 year olds who cannot fund a business by other means. It offers advice, coaching and low interest loans.

Princes Trust
Amacus (Leapfrog)

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