Thread: Advice on business start up please?

Ok, so since moving here I have had 4 employers in 6 years. That's frankly ridiculous. And I'm currently looking for the 5th!
I'm good at what I do, which is climate control - fridge or A/C. But there's little real commercial / industrial gear on the Gold Coast (my background is large commercial & industrial stuff, office blocks, hospitals, cinemas, that kind of thing) and it seems few employers are willing to consider anyone who lives more than a 5 minute walk from site or the office (yet are plenty willing to cry 'no good engineers around!).

So, I'm quite seriously considering self employment.
At this stage I'm thinking sole trader, as employing staff just seems too much aggro from what I've read here & elsewhere.
I know I need $20M public liability as at least one of my target clients requires that.
Income insurance would be a good idea.

The question is, what advice do any of you have for me if I go this way please?

Thanks a lot, in advance.

There is truth in what each of the previous comments say. After about 25 years in business I have found that you need to be a self starter, disciplined, chase work and chase your invoices even when the clients would prefer to pay next month etc.

But if you can do that it can certainly be very rewarding.

Two bits of advice:
1. Always get as large a percentage as possible of the job paid up front. Just make it a standard part of how you operate and never worry about clients that don't want to pay deposits etc. Theyre likely not worth having as clients.
2. Speak to an accountant or lawyer and set up a company in a way that protects your assets (Cars, houses and equipment). Never ever go in trading as yourself. You should put a big distance between your business and anything you own.

Whatever choice you make.....Good luck.

Cheers
Ben