Not sure were to go with my job.

helpme23

I'm self employed only 18 months. It's a 6 day a week job. I have a lot of over heads. I'm not taking a wage every week. I'm working to pay bills. I'm not happy. It's not making what I was told it was making. I feel very unsure of what I should do . I took a big risk. I bought into the business. I have two loans too pay off that I invested for starting up the business. I feel like I'm wasting time trying to make money at this because I only get a wage when bills are paid. It's hard to consider this a long term job. The investment is not worth what I paid. I want out. I have no life. And I'm working to live. Not living to work. I also have a long term illness which is not regonised by our hse at all. My medical card will be taken away. And I have been hospitalized last year. Which were I had to get cover to do my job. Also I can't even settle anymore to take full control off looking after my own health. Because I always I'm thinking of my job. And not my health. I have crohns diseases. So stress flares my condition. I also have a beautiful wee daughter who I have had to fight to get to see through the courts all of last year. Myself and her mother have split up. And she stopped me from properly seeing my child. It was very messy between her and her family. She tried taking her own life. And I got blamed for that. Thankfully she didn't succeed . And she is ok. But she still is very troubled. It's been a tough year gone by. And I'm still trying to keep my head down a working away but making no money. And in and out of court. And trying to look after my health. Which I'm not able to do properly. I had lost a big part of my daughters life because of how her mother was and still is. But thankfully that has been proved in court and I'm giving proper access. I'm litterly pulling my hair out. With the job. And neglecting my own health. Been self employed is far from Rosey. I want out. What Should I do. My investment is big. But as soon as I have my loans paid I should sell . I can't see myself in this after this year. I got in because the money sounded good. But it's far from the truth. What should I do now. ????

pgj2015

could you speak to a business mentor op, he/she might have some ideas to turn the business around. also do you mind me asking what business you are in?

zoobizoo

Are you in a partnership with someone or is it your own business?

Will it ever make more money that it is making now? As in, if your're working all the hours, how will you make more money from it, or can you?

zoobizoo

Are you in a partnership with someone or is it your own business?

Will it ever make more money that it is making now? As in, if your're working all the hours, how will you make more money from it, or can you?

helpme23

It's a breadrun I have taken over. So I'm a sole trader. Also I'm not looking after myself . Stress causes flare ups. Also due to my circumstances with the broken down realationship with my daughters mother and family that's causes more stress. So work related and personal problems makes it very difficult. Speaking with a buissness mentor ??

zoobizoo

How much would it cost you to get out now and get a regular job with less stress?

pgj2015

helpme23 wrote: »

It's a breadrun I have taken over. So I'm a sole trader. Also I'm not looking after myself . Stress causes flare ups. Also due to my circumstances with the broken down realationship with my daughters mother and family that's causes more stress. So work related and personal problems makes it very difficult. Speaking with a buissness mentor ??

https://www.localenterprise.ie/SouthDublin/Training-Events/Mentoring/

most county enterprise boards will provide a business mentor as far as I know. I would give it a go before giving up on the business.

helpme23

A lot. A lot. New van bought and two loans. Clear them first. Ah it's not making what I was told it was. It's still making enough but not near what it should be making. Ah I have a lot off out goings. And also the cost of medical bills is very due to chrons disease not been recognized as a long term illness. That in itself is a huge question mark for me to continue as been self employed. I would be really ignoring my illness . When I flared up last year I would be running from shop to shop just to go to the toilet. And that would be forty plus times a day. These are the cons. The pros are if the economy picked up like it is showing small signs it could be worth a few years more. I'm only at it 18 months but I see how hard it is for me due to my personal life. I'm a fully qualified bricklayer. And there is a huge building boom in the UK. The reason I bought into the business was there was no work and I was thinking of my daughters future. But if I'm sick I cant do that. Less stress.

Sound Bite

Have you a good accountant? Can they give you some guidance? Is your income regular? Have you any scope to increase your prices? What overheads can you reduce?

How large are the loans and how long ago did you take them out? Have you spoken with the bank about extending the term to reduce your repayments?

AJG

If you packed it in and headed to the U.K. to be a brickie would you make good enough money to cover the loans? I know there's a lot of building in London but the further north you go the cheaper it is to live and the sterling is strong. It's a big step and you would be away from your daughter for awhile which would be hard at first but in the long run your health (physical and mental) would improve. Plus the NHS is pretty decent (I've no idea whether they recognise Crohn's or not). But once you register with a GP all appointments are free.

Could you work something out with the bank to pay interest only for a while or meet with them and ask to reduce your monthly payments (even temporarily). I did this when the economy tanked in 2008. I'd taken out a loan to retrain in 2007 and while I was back in college for the year everything fell to pieces. Luckily I was able to re-negotiate and reduced my monthly out goings substantially until I could get enough cash together to knock a good bit off the total and eventually got on top of it.

Good luck with whatever decision you make. I'm sorry you're having a tough time of it.

Dughorm

helpme23 wrote: »

I would be really ignoring my illness . When I flared up last year I would be running from shop to shop just to go to the toilet. And that would be forty plus times a day.

Don't ignore your illness - it won't let you and it may get worse resulting in another hospital trip.

Talk to your doctor now.

You know what your doctor will tell you - cut out the stress

So that leaves you some options.

1. Quit the business - hand back the vans - cut your losses. Talk to your accountant first.

2. Stop stressing about it - only do the bare minimum you have to do 6 days a week and not a minute more. Remember why you are doing this - to spend time with your daughter, even if you only break even. You fought to have access to your daughter - make the most of your time together and put your job in its place.

helpme23

Hi my plan is to head to the UK because the money is better And more consistant . And meaning I'm not under as much stress as I am with the constant stress from this everyday. But for the mean while I'm thinking till maybe the summer I'm in this job. To get some of the bills paid. And to build on more time with my daughter.

helpme23

But loosing my health card in this country is a death wish. For just to be self-employed. And not able to be on top of my illness. I know some people have told well sure get on top of your illness make it go away. Well it wont. And I'm always going to need the medical support. Just to get a scope done is 750 euros. Medical cost every month is 144 and that only covers a certain amount of my meds. Bloods taken 50 check ups 75..If I'm hospitalized for two weeks it's 75 a day not including the scopes and meds to try and get the bleeding to stop . That's another 2,grand. And then pay somebody 12 days wages so that I can only half recover because the stress of my business is still there. I still have to do the orders take phone calls explain to my customers. That I'm sick. That is not good for business. Until your put into that situation it's not good for your health.

SAMTALK

OP running a small business in Ireland is very tough. There is no real support for a one man show and the stress can be unbelievable.
We have been in the same situation but have decided to get out and look for employment. There is a lot to be said for a wage at the end of the week with no worries about tax, vat profit etc....
Also there is no back up from the government if self employed become sick or dont have enough work. Seemingly self employed are supposed to have LOADS of money stashed away:rolleyes:

helpme23

It's not worth it not to listen to the **** you get from the public. Shop managers and the likes. There making the money. Don't get me wrong it is making money but not enough to risk loosing my medical card over. That's my biggest worry . Been able to work without stress in life means a lot. I got into because I was going to be a father and did it without knowing much about how it really is out there. A good hard lesson in buisness but I'm getting out this year. There was days I just felt like i was falling into a black hole. No way out. But that's because I'm a fella to proud to think I'm going to give up. I don't think people understand the way a small business works. And risking your health over your job is not good.