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ENTREPRENEURS, FREELANCERS AND THE SELF-EMPLOYED
Entrepreneurs, freelancers and self-employed people work for themselves providing either a product or a service for sale. They own or run their own business and this can vary from providing services such as dog-walking, plastering or hairdressing, to a company set up to produce and market a new piece of technology.
An entrepreneur is a person who starts a business based on an original idea for a product or service that is not yet available in their market.
Many entrepreneurs set up their companies on their own and have to find support like funding from investors or suppliers for the materials they need.
Entrepreneurs tend to start with limited resources and have to be prepared to take risks.
Many entrepreneurs support themselves with other sources of income while they're starting their business, so that they can take the time to build up a customer base and make a profit.
Self employed people own a business that offers a product or service that benefits its customers.
Typically, business owners have a thorough understanding of their industry and already know who their target customers will be.
Unlike entrepreneurs, the business is often the owners’ only source of income, so their main responsibility is to make it a success in order to support themselves and any staff they employ. Business owners are, therefore, less likely to be able to take big risks.
Freelancing is a form of self-employment. Freelancers offer their skills and talents to a number of clients on a flexible basis. For example in IT, Digital and Creative Media
They aren't employed by a company or committed to a single customer - freelancers have the freedom to choose the projects they'd like to work on and the clients they'd like to work for.
They usually work from home, although some rent studio or office space.
Would you like to become your own boss
Starting a business and making it a success is hard work. You need to do extensive research and think about the following questions:
Do people need my product or service?
How do I make my product or deliver my service?
How much money will I need to start, and how will I get it?
Will I need to employ staff? How much will this cost?
How will I market and promote my product?
How will I sell my product, in a shop, online or somewhere else?
Where will I operate my business?
What transport costs will I have to pay?
WHERE ELSE CAN I GET HELP?
Prince’s Trust supports young entrepreneurs in starting their own businesses. As well as grants, the trust offers business advice and mentoring for young entrepreneurs through their Enterprise Programme.
The Business & IP Centre (BIPC) Leeds City Region is open for business at libraries in Leeds, Bradford, Dewsbury, Halifax and Wakefield following last year’s announcement of BIPC Leeds’s expansion across the region.
A step by step guide to setting up your own business and accessing support can be found here.
You can contact the government’s Business Support Helpline for free advice. enquiries@businesssupporthelpline.org. Monday to Friday, 9am to 6pm (except bank holidays).
Speak to an adviser on webchat about support for your business.
AD:VENTURE - Leeds City Region provides free business development support and guidance to individuals starting a business, and businesses in their first 3 years of trading in Craven, Harrogate, Selby, York, Calderdale, Bradford, Wakefield, Kirklees and Leeds.
UnLtd finds, funds and supports social entrepreneurs to get started or grow. Social Entrepreneurs are enterprising people with solutions that change our society for the better. Awards of up to £18,000 are available, but they are highly competitive so it is important to check you meet the eligibility criteria.
Mentorsme is an online gateway for businesses looking for mentoring.
Barclays Life Skills can help you to develop your enterprise and business skills. You'll need to create a free account.
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