Self Employment Business Plan

Whilst it is perfectly legal to have a part-time self-employed side job, be sure to consult your work contract to ensure that your company has not expressly forbidden it.

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Part-time self-employment is a popular option, and for good reason.

Enterprises which begin as part-time before becoming full-time tend to last longer.

Maybe you expect a longer build-up phase, or you don’t want to give up your main career.

In any of these scenarios, part-time self-employment is a good option.

The plan will also help you to identify the risks you are taking with your side gig. Can you raise it yourself or do you need a bank loan?

You may need to rent and furnish an office or workshop.You can work doing whatever you want (as long as you fulfil the conditions of a possible professional code), and you can earn as much as you want.In practice, however, certain rules and restrictions must be observed.So, you want to be self-employed but don’t know where to start?In principle, there are no restrictions for part-time self-employment.Here’s a breakdown of the ways your side gig could negatively affect your main job: Many employers include a non-compete clause in their employee contracts.This is to ensure that you do not take the information, skills and contacts you acquire at your main job elsewhere (either to a new employer, or to a self-employed side job).Some employment contracts even contain a non-competition clause beyond the employee’s departure from the company.Be sure to peruse your contract carefully before beginning any self-employed part-time work to ensure that you are legally covered.If you want to set up your own business on a part-time basis, there is a lot that needs to be taken into consideration.You have a good idea for your own business, but you don’t really know whether the concept will be successful.


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