Does the government allow any support for someone who is currently on
income support but wishes to start a business?

For example what would be the stance on earning money through sales,
100% of which was ploughed back into the business?

Or if at the beginning there would be zero profit that would end up in
the benefiter's pocket?

On 9 May, 11:37, bornfree  wrote:
> Does the government allow any support for someone who is currently on
> income support but wishes to start a business?
>
> For example what would be the stance on earning money through sales,
> 100% of which was ploughed back into the business?
>
> Or if at the beginning there would be zero profit that would end up in
> the benefiter's pocket?

There are a lot of help available. Ploughing 100% back into the
business is unusual, you still have to live.
Depending on your age and what you are trying to do, there can be
grants, loans, tons of advice, book-keeping support and good old
working tax credits.

What your income is as self employed is your profit. Nothing else.
What you actually draw out of the business is up to you.

Just be aware that a lot of new businesses fold in the first 2 years
and often can for a while cost more money to run than they make.
Being able to do the work isn't enough, you have to think cash-flow,
charging customers, chasing debts, equipment and so on.

But well worth it if you can hack it. I'm both employed and self
employed, the self employment is far more useful to me tax-wise than
the employment is.

Have a word with your local tax office, your local chamber of commerce
and check the web for start-up help.
Whether benefits will be paid is more open to question, they also take
account of time spent working too.

Good luck.

Martin  <><

mart2306@hotmail.com wrote:
> On 9 May, 11:37, bornfree  wrote:
>> Does the government allow any support for someone who is currently on
>> income support but wishes to start a business?
>>
>> For example what would be the stance on earning money through sales,
>> 100% of which was ploughed back into the business?
>>
>> Or if at the beginning there would be zero profit that would end up in
>> the benefiter's pocket?
> 
> There are a lot of help available. Ploughing 100% back into the
> business is unusual, you still have to live.
> Depending on your age and what you are trying to do, there can be
> grants, loans, tons of advice, book-keeping support and good old
> working tax credits.
> 
> What your income is as self employed is your profit. Nothing else.
> What you actually draw out of the business is up to you.
> 
> Just be aware that a lot of new businesses fold in the first 2 years
> and often can for a while cost more money to run than they make.
> Being able to do the work isn't enough, you have to think cash-flow,
> charging customers, chasing debts, equipment and so on.
> 
> But well worth it if you can hack it. I'm both employed and self
> employed, the self employment is far more useful to me tax-wise than
> the employment is.
> 
> Have a word with your local tax office, your local chamber of commerce
> and check the web for start-up help.
> Whether benefits will be paid is more open to question, they also take
> account of time spent working too.
> 
> Good luck.
> 
> Martin  <><

In addition, if the person is on Income Support it will also depend on 
why they are on IS as to whether that benefit can continue to be paid. 
If they are long term sick then they may be called for a medical. Shaw 
Trust may be able to advise about this.

-- 
Robbie

On 9 May, 11:51, "mart2...@hotmail.com"  wrote:
> On 9 May, 11:37, bornfree  wrote:
>
> > Does the government allow any support for someone who is currently on
> > income support but wishes to start a business?
>
> > For example what would be the stance on earning money through sales,
> > 100% of which was ploughed back into the business?
>
> > Or if at the beginning there would be zero profit that would end up in
> > the benefiter's pocket?
>
> There are a lot of help available. Ploughing 100% back into the
> business is unusual, you still have to live.
> Depending on your age and what you are trying to do, there can be
> grants, loans, tons of advice, book-keeping support and good old
> working tax credits.
>

Where can I learn book keeping in London?

On 10 May, 02:29, bornfree  wrote:
> On 9 May, 11:51, "mart2...@hotmail.com"  wrote:
>
>
>
>
>
> > On 9 May, 11:37, bornfree  wrote:
>
> > > Does the government allow any support for someone who is currently on
> > > income support but wishes to start a business?
>
> > > For example what would be the stance on earning money through sales,
> > > 100% of which was ploughed back into the business?
>
> > > Or if at the beginning there would be zero profit that would end up in
> > > the benefiter's pocket?
>
> > There are a lot of help available. Ploughing 100% back into the
> > business is unusual, you still have to live.
> > Depending on your age and what you are trying to do, there can be
> > grants, loans, tons of advice, book-keeping support and good old
> > working tax credits.
>
> Where can I learn book keeping in London?- Hide quoted text -
>
> - Show quoted text -

Many colleges do it, there are even a few schools that will offer it
as an evening class.
Or you can do distance learning.
Oh, and some training providers offer it on an 'as needed' basis.

Failing all that, its not impossible to learn it from a book though
its good to have experienced people to ask questions about your work.
Not every business requires book keeping.

Martin  <><

On 10 May, 08:46, "mart2...@hotmail.com"  wrote:
> On 10 May, 02:29, bornfree  wrote:
>
>
>
> > On 9 May, 11:51, "mart2...@hotmail.com"  wrote:
>
> > > On 9 May, 11:37, bornfree  wrote:
>
> > > > Does the government allow any support for someone who is currently on
> > > > income support but wishes to start a business?
>
> > > > For example what would be the stance on earning money through sales,
> > > > 100% of which was ploughed back into the business?
>
> > > > Or if at the beginning there would be zero profit that would end up in
> > > > the benefiter's pocket?
>
> > > There are a lot of help available. Ploughing 100% back into the
> > > business is unusual, you still have to live.
> > > Depending on your age and what you are trying to do, there can be
> > > grants, loans, tons of advice, book-keeping support and good old
> > > working tax credits.
>
> > Where can I learn book keeping in London?- Hide quoted text -
>
> > - Show quoted text -
>
> Many colleges do it, there are even a few schools that will offer it
> as an evening class.
> Or you can do distance learning.
> Oh, and some training providers offer it on an 'as needed' basis.
>
> Failing all that, its not impossible to learn it from a book though
> its good to have experienced people to ask questions about your work.
> Not every business requires book keeping.

"Not every business requires book keeping."

Woah wait.. All businesses need to know where their money is going!
That's what book keeping is.

Thanks for your tips.

On 18 May, 19:42, bornfree  wrote:
> On 10 May, 08:46, "mart2...@hotmail.com"  wrote:
>
>
>
>
>
> > On 10 May, 02:29, bornfree  wrote:
>
> > > On 9 May, 11:51, "mart2...@hotmail.com"  wrote:
>
> > > > On 9 May, 11:37, bornfree  wrote:
>
> > > > > Does the government allow any support for someone who is currently on
> > > > > income support but wishes to start a business?
>
> > > > > For example what would be the stance on earning money through sales,
> > > > > 100% of which was ploughed back into the business?
>
> > > > > Or if at the beginning there would be zero profit that would end up in
> > > > > the benefiter's pocket?
>
> > > > There are a lot of help available. Ploughing 100% back into the
> > > > business is unusual, you still have to live.
> > > > Depending on your age and what you are trying to do, there can be
> > > > grants, loans, tons of advice, book-keeping support and good old
> > > > working tax credits.
>
> > > Where can I learn book keeping in London?- Hide quoted text -
>
> > > - Show quoted text -
>
> > Many colleges do it, there are even a few schools that will offer it
> > as an evening class.
> > Or you can do distance learning.
> > Oh, and some training providers offer it on an 'as needed' basis.
>
> > Failing all that, its not impossible to learn it from a book though
> > its good to have experienced people to ask questions about your work.
> > Not every business requires book keeping.
>
> "Not every business requires book keeping."
>
> Woah wait.. All businesses need to know where their money is going!
> That's what book keeping is.
>
> Thanks for your tips.- Hide quoted text -
>
> - Show quoted text -

Some are simple enough to have few outgoings or little to keep track
of.
Others require someone who knows book-keeping to be involved (though
can contract that out).

All businesses need to record income and record outgoings. Thats a
given.
Not all are complex. My main type of business requires only a couple
of hours collation once a year for the tax return due to the way it
was set up.
The company I'm setting up later this year will be a little more
complex but much lower turnover too.  :)

Martin  <><