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Freelance Start Up Costs

Katie MetcalfeKatie Metcalfe
edited September 2013 in - Resources
I’m currently in the process of writing a business plan, and am at the part where I need to write about start-up costs. Now, I've got the usual written down, like new laptop, printer, flash drive, stationary, advertising space...etc, but I'd appreciate any thoughts about items that could easily be forgotten about. Thanks!

Comments

  • Mrs BearMrs Bear
    edited September 2013
    If you work from home, will your house insurance cover business-related items? You may have to increase your cover for an office. Is your work station suitable for extended use? Mine wasn't - hence the year's worth of shoulder physio; so you may want to check out a new desk, chair, or stand for your computer screen as part of your business costs. Will you need business cards/a web site?
    Good luck with it all, Katie!
    https://www.gov.uk/browse/business - might be of interest.
  • Baggy BooksBaggy Books
    What kind of work are we talking about?

    Dictionaries and reference books.
  • boredrobotsboredrobots
    - Internet Connection
    - Software
    - Web hosting
    - Business cards
    - Networking costs (referral marketing meeting kind of stuff)
    - Legal/Accounting help with income tax/general accounts?
    - Use of home as office (£3 weekly HMRC approved)
  • boredrobotsboredrobots
    Also professional indemnity insurance could be a biggy if you need to get it, but obviously it saves you a small fortune if something does go wrong.
  • LizLiz
    I have insurance provided free just by belonging to the national association of writers in education. Which counter-intuitively does not use capitals for its name. So if going into schools is anyone's bag, it's very handy. It will also be your umbrella organisation if you want to get CAB checked.
  • Baggy BooksBaggy Books
    Do you need to separate out actual start up costs from costs that will be on-going overheads?
  • Phots MollPhots Moll
    A business plan? Is that to get a loan to start up?

    If so, do you really need all that equipment? Presumably (as you've posted here) you have a computer already and I'm guessing you sit on something to use it.
  • doradora
    Katie, have you any local businesses in your area which provide free start-up advice?

    I found one close to me, by using Twitter. They provide lots of info, advice and courses all free, until you start trading.

    Get gooooogling (if you haven't already that is) :)
  • Katie MetcalfeKatie Metcalfe
    Thanks for the advice everyone. I'm going into business providing freelance writing services and workshops. One of my main objectives it to provide therapeutic writing workshops for people have mental health problems.

    I'm working with the Pinetree Trust who help people with mental health problems become self-employed, and I need to write a business plan to acquire funding.

    Yes, Phots Moll I do have a laptop but it has been used daily for eight years and has got to the point where it is crashing on a regular basis.
  • doradora
    Sounds like a good idea, Katie. I look forward to hearing how you're getting on with that.
  • Phots MollPhots Moll
    You'll probably need a CRB check then. There's a fee for that.

    If you drive in connection with the business your car insurance is likely to cost more.

    Will you have to hire a venue for workshops? Text books/equipment/supplies for your clients?

    Public liability insurance.

    [quote=Baggy Books]Do you need to separate out actual start up costs from costs that will be on-going overheads?[/quote] Good question - but you'll probably need enough to cover a period of running costs before you start, until you begin to make a profit.
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