Setting up Training business.....

[HomersCash]

Hi,

Became un-employed before Christmas - engineer working in technology/construction sector.

Currently on Jobseekers Benefit.

In the processs of re-training and becoming technical trainer.
Talking to Training Providers and they will employ me as technical trainer commencing April timeframe.

Question:
They want me to become self-employed or a ltd company, i.e. they will they contract my services. (they do not have direct training employees on their staff)

1) Self-employed v Ltd Company? Pros and Cons.
2) I may receive only 2-3 days a week "work" with them, so if self-employed, I will no longer be able to claim Jobseekers Benefit?
3) I understand training to be VAT exempt?
4) Ball-park of costs for decent accountant to do my books and returns?

Loads and loads of other questions....

Worst-case scenario, become self-employed, get 2 days work per week, lose Jobseekers Benefit - and have no noticable increase in income....

Want to have my eyes completely open before committing to this new venture.

Thanks

 

[Domo]

Self-employed v Ltd company - lots of pros and cons, you need to sit down with an advisor to go through all of these.

Jobseekers benefit only available if you are actively looking and available for a job. If you are self-employed, my understanding is that you will not be entitled to this. However, confirm with Social Welfare Office.

Ltd company - you will become an employee of the company, and therefore may be able to sign on for days not working - again check with Social Welfare office - this may be the way to go, if you can claim some jobseekers benefit.

Training is VAT exempt.

Fees will vary - I would guess €800 for self-employed accounts and tax returns, €1,000+ for Ltd company accounts and returns. This will of course depend on the number of transactions you carry out, an other issues involved.

 

[capall]

Technical Training is tax exempt ,if you were also doing some consultancy work this would be vatable. If your business sales are all vat exempt then you won't be able to reclaim vat on any of your inputs.

It is cheaper and simpler to operate as a soletrader ,especially if you dont know how long you will be self employed for. There is no great advantage to operating through a limited company except in the area of pension planning

It takes time to build up a business ,you might start off with 2 days a week and then source additional work

If you are starting to be self employed be well organised from the start it saves pain in the long run

 

[Braydon]

You need to have an stirring and interesting sales training program to be successful. Interactive learning is much more interesting and fun for you sales group. Listening to a speaker just doesn't work anymore. A person is more likely to remember a program they have participated in and had some fun with. The learning process need to be thought getting and enjoyable if you expect the training session to be remembered and put to use.