Setting up in business
"Be prepared to act quickly when opportunities arise"
Setting up in business for the first time can be a daunting prospect, not only for those who are coming out of permanent employment, but also for those who have been self-employed and are required to formalise their company. Reliable and professional advice is readily available and we would strongly recommend you seek it.
Once you feel ready to commit to a career in interim management, you will need to set up a limited company as soon as possible. It may be that you need to start your first assignment within days. If this is the case, you will need to do the following as soon as possible:
- Form a limited company
- Set your daily rate
- Take out professional indemnity insurance
One of the features of interim management is the speed with which opportunities arise and are filled - 72 hours is not unusual! It therefore pays to be ready by being set up correctly, ready to trade and with a clear understanding of the daily rate you need to charge. Don’t just have a stab at it - get it right from the start! The menu items on the left give you more information on setting up in business.
Who can help?
For same-day company formation, advice on daily rates and professional indemnity insurance, we advise you to speak to a specialist at Competex Ltd. Competex is a specialist accountant for interim managers and consultants, and can be easily reached during office hours on 01737 234567. To get started and set up a limited company straight away with Competex, you need to download their company formation documents.