OBJECTIVES:

This unit is aimed at individuals who are considering setting up their own business and being self-employed and is designed to highlight the features and challenges of being self-employed so that informed decisions can be made. The unit culminates in a self-assessment of whether setting up your own business is the right career decision for you. There are many motives for choosing self-employment as a career option and setting up your own business within your own local environment. For some it is simply to earn money, while for others it stems from a wish to follow an exciting destiny to be their own boss. It’s recognised that for others it is a necessity of balancing work and life demands, particularly where the care of dependants, such as children or elderly relatives, is a priority. However, taking a skill or talent and turning it into a business is not always simple and the decision to do so should not be taken lightly. In most countries, there are financial and legal obligations that have to be met by the selfemployed. These obligations require an understanding of the national, regional and local legislation and regulations. A lack of understanding of these rules, and recognition of the other demands of running your own business, can put financial and emotional strain on individuals and their families. The unit is aimed at developing a wide range of transferable skills which could be applied in many careers, including for example: childcare, hairdressing, taxi driving, general building, plumbing, electrical installation, beauty therapy, carpentry, cleaning, farming, gardening, truck driving, vehicle maintenance, the arts, website design, computer construction and installation.