Entrepreneurship and Self-Employment

Why consider it

• Can suit people wanting flexibility, portfolio careers or to monetise specialist skills.
• Requires realistic planning around income volatility, tax and marketing.

Key UK resources

• GOV.UK – Set up a business – explains legal structures (sole trader, limited company), tax registration and legal obligations. GOV.UK+1
• Business.gov.uk – Starting a business in the UK – government-backed information and signposting to local support and networks. Business Growth Service
• Prince’s Trust Enterprise Programme – support (including mentoring and sometimes funding) for young people (typically 18–30) exploring self-employment.
  • National number commonly used for programme access: 0800 842 842. West Space+2West Berkshire Directory+2

Startup hubs and mentoring

• Local Growth Hubs (via Local Enterprise Partnerships or devolved authorities).
• University incubators and enterprise centres.
• Professional bodies (CIPD, BCS, RSC, etc.) sometimes offer self-employed / consultant support networks. CIPD+1

Core steps to discuss with clients

1. Clarify the offer – who are their customers and what problem are they solving?
2. Check viability – basic income target, realistic pricing, competitor scan.
3. Test the idea small-scale (freelance gigs, pilot projects) while learning about self-assessment and bookkeeping.
4. Seek free advice from local business support organisations before taking major financial risks.