- Original Poster
- #1
Hi,
I have spent several years planning a business for the future which I was ready to start up recently. However, I have been doing a lot of research as I wanted to do everything legitimately but the more I learn about it the more ridiculously difficult it seems to be and it's now got to the point where it just seems nigh on impossible - especially the legal side of things.
I was once told that a good entrepeneur doesn't worry about the technicalities and just gets on and does it and learns along the way. However, I've also found out that business owners are responsible for finding out the law for themselves and are responsible whether they are well-informed or not and could get fined or shut down for not following the correct legislation.
My business is basically ready to go, I could start it up right now if I wanted to, but legally there are a number of things preventing me from doing so.
I am currently unemployed and on benefits (which is why I want to go self-employed) but to work more than 16 hours a week (which would be necessary) I would have to claim working tax credits and I'm not expecting to make a profit from my first year, therefore the tax credits would not be enough to cover rent and council and keep my family. We would be a lot worse off financially than we are now and we're struggling now.
The only other way is to take advantage of the benefits disregard whereby I can earn £10 per week and anything over is deducted from my benefits (income support) but that requires working less than 16 hours a week and I would lose most of the money that I earn.
So both situations are catch-22 scenarios and wouldn't help us at all - we'd either be worse off or be in the same position but working part-time which doesn't seem worth it.
There's no way that I can generate enough income in the first year in order to be independent of social security benefits which basically makes it impossible for me to go self employed.
And this is just scratching the surface. Even if I did go into business there's that whole load of ridiculous to understand legislation and high costs required such as registering as a data controller, ensuring that anti-money laundering laws are in place, getting registered with all the appropriate bodies and so much more.
It seems to me that UK is an economically corrupt country where the rich get richer and the poor get stuck.
How on earth do people get around all this stuff? My luck in the past has been so bad I bet that if I went ahead and tried to do it all legitimately I would most likely get accused of benefit fraud or something ridiculously simialr.
I have spent several years planning a business for the future which I was ready to start up recently. However, I have been doing a lot of research as I wanted to do everything legitimately but the more I learn about it the more ridiculously difficult it seems to be and it's now got to the point where it just seems nigh on impossible - especially the legal side of things.
I was once told that a good entrepeneur doesn't worry about the technicalities and just gets on and does it and learns along the way. However, I've also found out that business owners are responsible for finding out the law for themselves and are responsible whether they are well-informed or not and could get fined or shut down for not following the correct legislation.
My business is basically ready to go, I could start it up right now if I wanted to, but legally there are a number of things preventing me from doing so.
I am currently unemployed and on benefits (which is why I want to go self-employed) but to work more than 16 hours a week (which would be necessary) I would have to claim working tax credits and I'm not expecting to make a profit from my first year, therefore the tax credits would not be enough to cover rent and council and keep my family. We would be a lot worse off financially than we are now and we're struggling now.
The only other way is to take advantage of the benefits disregard whereby I can earn £10 per week and anything over is deducted from my benefits (income support) but that requires working less than 16 hours a week and I would lose most of the money that I earn.
So both situations are catch-22 scenarios and wouldn't help us at all - we'd either be worse off or be in the same position but working part-time which doesn't seem worth it.
There's no way that I can generate enough income in the first year in order to be independent of social security benefits which basically makes it impossible for me to go self employed.
And this is just scratching the surface. Even if I did go into business there's that whole load of ridiculous to understand legislation and high costs required such as registering as a data controller, ensuring that anti-money laundering laws are in place, getting registered with all the appropriate bodies and so much more.
It seems to me that UK is an economically corrupt country where the rich get richer and the poor get stuck.
How on earth do people get around all this stuff? My luck in the past has been so bad I bet that if I went ahead and tried to do it all legitimately I would most likely get accused of benefit fraud or something ridiculously simialr.
