Being self-employed usually means you are either working as a freelancer or you have set up your own business. You work for yourself; you are responsible for finding work, and you are not on the payroll of a company.

Some professions in the UK, such as journalism, creative arts, and interpreting, tend to rely on self-employed people to do the jobs available. As of 2020, over 5 million people in the UK have set up their own businesses, which they either run by themselves or with the help of people they employ.

Yes. You can work for an employer and work for yourself at the same time.

PROs

• You can often work from home

• Flexible working hours

• You can take time off whenever you want

• You have freedom and control

• The money you make is yours

• If your business is very successful, you could make a lot of money

• You can choose who you work with

• You can spend your time doing something you love

• Sense of satisfaction and reward

• Many people from refugee backgrounds have successfully set up businesses in the UK

• Lots of organisations will support you to plan and launch your business

CONs

• You usually have to work long hours until the business is established

• You have to make sure you can find enough work

• It can be expensive to start a business

• You have to look after your own accounts and pay your own taxes

• No sick pay

• No regular income

• Don’t get paid for holiday

• Only one in three businesses in the UK succeed after the first three years of operating

• Willing to take risks

• • Good at networking and finding clients

• Passionate and hard-working

• Energetic

• Creative

• Strong IT skills

• Understanding of self-employment laws

• Very, very organised!

• Before you decide to set up a business, there are lots of things to consider:

• What is the nature of the business, service, or product?

• What does your business offer that other businesses don’t? What is your unique selling point (USP)?

• Have you researched whether people want your service or product?

• Who is your service or product aimed at?

• Where will your business be located?

• What type of business will you open? Sole trader, limited company, or business partnership?

• Do you understand what paperwork you need to complete and how you will pay taxes?

• How much money will you need to start the business?

• What will your company be called?

• Are you going to open a business bank account?

• How are you going to market your service or product?

• Have you written a business plan?

• Do you have the necessary IT skills to keep track of your profits and losses?

• How much money do you realistically expect to make? How have you worked this out?

• Would it be better to find employment first then set up a business afterwards?

• Have you set yourself specific, measurable goals? What are they? How will you know if you have achieved them?

• Have you considered the risks of setting up your own business? What are they? What are you going to do to make sure they do not turn into problems?

Planning and launching a new business can take a lot of hard work and determination. However, lots of organisations and online resources can help you at all stages of your business development.

STEP partners with The Entrepreneurial Refugee Network (TERN), which is an organisation supporting refugees all over the UK to plan, launch, and develop businesses.

If you decide you would like to set up your own business, you should speak to your Employment Adviser about signing up with TERN.

The Refugee Entrepreneurship Network provides free membership to a network of other refugee entrepreneurs and experienced businesspeople.

There are also many, many online materials and resources that can give you ideas and structures for your business.

It can be very useful to find a business mentor who can give you free expert advice and guidance.

Your Employment Adviser can help you do this, and there is further advice on finding mentors.