Taking the plunge!?

Peterpower

Looking for advice!?

Just to give some background - I always wanted to work for myself even when I was a kid. I did the whole accountancy lark so if anything happened I'd have a plan B to fall back on.

Now I'm a chartered accountant pulling in 50K a year so I have a comfortable lifestyle at the moment for a 27yr old. Problem is Im bored with my job & Im gradually losing motivation/confidence and basically getting into a rut. Its not the job, its really just me.

I need/want to get working for myself but I just dont know what. Im more of a management type person (jack of all trades!) so my strengths are not around doing specific tasks like doing accounts for people but rather managing a company doing accounts for people. (Grew up helping parents run their businesses from very young age)

I can get my hands on 200/300K mostly through a loan so I just need a business to invest in.

Can anyone point me in a good direction where I could buy out a company or get into partnership with someone?? (business for sale websites are terrible!)

I feel its the best time to start a business, if you can build up a company in times like this you are on to a winner. Yes its harder work but it positions you well into the market for when things pick up.

Any help apprecitated!

GreenlightM

I think your correct..it is a good time to start a business and I'd encourage you to do so.... but my one word of advice is to do something you have an interest in or are good at.. you really need to have some focus.

You say your a qualified accountant so why not start here and offer your services to other start ups. This could very likely lead you to meet people with good business ideas but without the financial where for all who need investment and advice
R

m5ex9oqjawdg2i

I have an idea but I still have to do a lot of work on it. Problem is, I seriously doubt the bank would lend me anything for it. Which is sad really The people with the money don't have ideas, the people with ideas have no money :P

Conor J

Im in a similar boat to yourself, 28 years old and working in a similar paying job as a software engineer. I do have a business idea, but I could do with someone who has a more business/numbers focused acumen.

I had to set up a new a/c here on boards since the boardsie hack, so this is my first post, cannot yet send pms. but if you are interested in discussing a potential start-up that has been researched intensively for a while, then drop me a pm with your email.

all the best

Boom Boom

Hi Op

surely from the position you are in you can see what clients are surviving/beating the recession and succeeding. What areas of industry they are in that you could probably hop on the bandwagon and set up one business to earn a moderate income, create employment etc.
use this as a base position that if everything else around you fails this will survive. from there become a bit more daring in your ventures.

Other options are; you mentioned your folks business what did they do would that interest you.
or
With that kind of capital in your armory maybe look at a franchise of some description.

hope this helps and best of luck whatever you do decide.

boom boom

Peterpower

Thanks for your opinions guys!!

I think you're onto a winner there GreenlightM. I was researching some bizcamp gatherings & other networking meetings so I might hit them for a bit and see what turns up.

Thanks again

21inchguns

I would strongly advise against investing 200-300k in your first business especially as most of it will be a loan (I am guessing from a family member?). You will make mistakes the first time and it would be much better to make the mistakes on a smaller scale.

m5ex9oqjawdg2i

21inchguns wrote: »

I would strongly advise against investing 200-300k in your first business especially as most of it will be a loan (I am guessing from a family member?). You will make mistakes the first time and it would be much better to make the mistakes on a smaller scale.

So true.