• Self employment

► Self employment

A government minister has commented that students leaving universities should cast off "old fashioned" ideas about what constitutes a graduate job and instead consider starting a business.

The option to start your own business and working for yourself is becoming more of a viable option for many people. The main attractions of becoming self-employed are how quickly you can set up a business and no longer having to work for somebody else! Even if you are currently employed by somebody else, you can also become a sole trader and run your own business in your spare time. This makes it a safe way to test a business idea and see if you like being your own boss. Whatever the reason for the start-up, there's no better time than right now to get going and start pursuing your business dreams.

HMRC have an e-learning course for those wanting to start their own business. The course includes information on taxation, National Insurance, VAT what records must be kept to comply with tax obligations and what to consider when employing people.

You can access the course on the Business Link website. (opens in a new window)

Many universities now have schemes that support students wanting to start up in their own business.

• EMIN Enterprise Solutions - a collaboration between the Universities of Derby, De Montfort, Leicester, Lincoln, Northhampton, and Nottingham Trent, providing business and technical assistance to start-up companies in the East Midlands.
• Student Placements for Entrepreneurs in Education West Midlands (SPEED WM) - a project based at the University of Wolverhampton involving Aston University, BCU Birmingham, Coventry University, Keele University, Staffordshire University, University of Birmingham and University of Worcester, designed to help entrepreneurial students set up their own businesses while studying.
• Self employment (pdf, opens in a new window) - with information on being self employed, paying National Insurance and Tax, and further information.  (Produced by the Works, University of Exeter) 

• Companies House
• Business Link
• Community Interest Companies
• HM Revenue & Customs
• Byte Start
• Just Start Ups
• The Black Business Association
• UnLtd - for Social Enterprises
• Social Enterprise West Midlands
• Student Gems
• Intellectual Property Office
• Small Business
• BBC News "What does it take to start your own business?"
• BBC News "Start-up stories"
• New Business
• Think Enterprise

• Business plans and marketing strategy
• Preparing a business plan
• How to write a business plan
• Creating a business plan
• How to cheat at business plans