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Self-Employment/
What is self-employment and entrepreneurship?
If you work for yourself, you’re classed as a sole trader. This means you’re self-employed - even if you haven’t yet told HM Revenue and Customs (HMRC).
You are classed as self employed if you:
Run your own business
Sell goods/services
You can be both self-employed and employed at the same time. So, it’s possible to have a side hustle and be in other employment. This could be anything from an Etsy shop to selling your wares weekly on a market stall.
While all entrepreneurs are self-employed, not all self-employed people are entrepreneurs.
Self-Employment might be right for you if you are:
Looking for a new challenge and like working to your own pace
Want to be your own boss; you will set everything from your pay to your hours
Have an idea for a product or service that has a Unique Selling Point
Have a good array of skills that can be used to get started- or at least know where to look for support
Are self-motivated and driven to succeed
What's the difference between entrepreneurship and self-employment?
Reality Check
Being self-employed can be a challenge. You will be responsible for all elements of your business, so if you have no customers that month you could have no income. You will need to have a variety of skills and be able to wear lots of different hats. Not all businesses thrive and you will likely need support- check out what you could do to get started below!
Interested in learning more about Being Your Own Boss?
Why not complete Start Up?
START Up is an 8 week business programme aimed to equip you with the skills, knowledge and confidence to launch your own business. In collaboration with a whole host of reputable establishments related to enterprise, every week we are joined by an expert guest speaker from varying backgrounds to deliver a topic integral to the start-up process:
How to think of a business idea
Business planning, finance/tax and law
Branding, marketing, networking and e-commerce
Pitching your idea for investment
You will be supported to enter regional initiatives and events to win support to help with launching your business.
Eligibility criteria
Applicants must:
Be enrolled onto one of our Level 2 or above programmes (other students will be considered on a case by case basis).
Be free for the sessions at Hillsborough or City campus
Commit to the programme – if you sign up you have to complete the full 8 weeks.
What have some of our previous students from Start Up achieved?
Find out more in our quick video
5 skills and qualities needed for entrepreneurship
Decisive - Entrepreneurs are confident self-starters with the resilience to overcome any problems and the belief that they'll learn from any mistakes they make.
Innovative - Always looking to create better products or services, entrepreneurs continually strive to reinvent their business.
Passionate - A genuine love for their product or service, not to mention their customers is essential.
Risk-taking - Prepared to take calculated risks, but never reckless ones, entrepreneurs characteristically sacrifice short-term income to maximise long-term gain.
Persistent - Not every idea or business venture will be a success, but the best entrepreneurs have the resilience to pick themselves up after a failure and the perseverance and tenacity to keep going.
What to do next
Join the Sheffield Chamber of Commerce Business and Enterprise Academy to get updates on when we have sessions- our workshops and speakers are open to all students.
Consider joining Start Up above to get one to one support for your business idea.
Make a list of pros and cons for your own business idea- is it something the world needs? Do you think it is something you want to do as a career or alongside another job?
If you're already running your own business, get in touch! We love to hear from students who are enterprising. Contact us on enterprise@sheffcol.ac.uk to access support and guidance.
Interested in developing your enterprise skills?
Register today to become a member of The Sheffield Chamber of Commerce Business and Enterprise Academy! We offer free insight talks and skills masterclasses based on enterprise skills.
Further links for support
Providing free resources and support for young people who are hoping to start up a business.
Providing free support (resources, workshops, networking events, mentoring) for start up businesses in Sheffield.
A financial institution providing financial support to start up businesses.
An organisation providing support via membership for established, local businesses in Sheffield.
Selling opportunities at local markets
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