plonkee money an english-er's thoughts on personal finance

July 26, 2007

additional income possibilities: self-employment

Filed under: education and career — plonkee @ 3:33 pm

If you are looking for additional income and you don’t want to get a part-time job you might think of turning to self-employment. I’m not really a fan of setting up businesses, so I’m thinking that you want something that is relatively easy and doesn’t take up too much time. These ideas are relatively low cost to start up, although you probably need a portfolio, possibly a website (domain name and hosting) and some supplies / tools. They grow best through word of mouth and maybe local advertising. One important thing to remember, self-employment earnings are taxable and you should register with the tax man once you start a business.

The Wedding Industry

Can you do any of the following – bake and decorate cakes, create flower arrangements, bouquets and buttonholes, calligraphy and papercraft? You might want to consider getting set up for weddings, christenings and other special occasions. The advantages of this sort of business are that it is pretty seasonal and people will pay good money for quality products.

Children’s Entertainment

If you can plan and run children’s parties, this could be a reasonable idea. It probably works best if you can do magic tricks, face painting or have some circus skills but there are many ways of running a party. You could even run old-fashioned party game parties. This one would need to be carefully costed out as props and extras are not cheap. There are also child protection issues – it probably helps to have children yourself for credibility.

Gardening

If you have green fingers, you could charge about £10-£15 an hour for your gardening skills – landscape and garden design, planting and so on. Its also has seasonal factors and requires you to be outdoors – for some a bonus, for others less so. Since I know nothing about gardens, I can’t really add much more to this.

IT Technical Support

If you’re a whiz on a PC and can set up and troubleshoot commonly used systems and packages, you might want to consider this as a business. Now that computers and the internet have gone beyond the mainstream, there’s a market for helping people with their new purchases as the technophobes get in on the act.

What other good ideas can you come up with?

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