2007-01-30 08:22:40 · 12 answers · asked by rjhamuk 2 in Business & Finance ➔ Careers & Employment
Depends on a number of factors, such as which industry you are working in, how much local competition you have, how hard you work, how many hours you work, how quickly your customers pay you, whether you have a ready supply of customers (or whether you have to find them all yourself), how much money you have behind you, how much your bank stuffs you for, how many hangers-on you have (sucking you dry) and hundreds of similar considerations.
Get it right and you have the potential to be a multi-millionaire, get it even slightly wrong and you'll end up doing 18 hour days, seven days a week, fifty-two weeks a year, with-out holidays or sick pay whilst constantly chasing your 'wages'.
Everyone should try it once; but it isn't for everyone. Most self employed don't start to make real money until they stop working and start employing people to do the work for them!
2007-01-30 08:47:07 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I'm self employed and help other self employed - none of us seem to be making much at the moment but it does depend what you go self employed as and how hard you push your business.
2007-01-30 08:35:29 · answer #2 · answered by Anonymous · 1⤊ 0⤋
it depends on how much money you actually made, what deductions you are eligible for and other things. I am self employed and do not make quarterly payments. I dont make very much and my husband also works a regular w-2 job. run your information through turbo tax, make sure keep detailed records of your car expenses, office expenses etc. those deductions can come in handy with self employment. By the way, i DO get a refund, so it is possible for you, it just depends on your income after deductions and tax liability.
2016-03-29 10:14:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It depends what you do!! My husband used to be self employed but the main problem was cashflow - people didn't always pay their bills on time. I think you need enough money behind you to be able to live on for at least a year while you are growing your business.
2007-01-30 08:31:36 · answer #4 · answered by Jude 7 · 0⤊ 0⤋
Thats like asking how long is a piece of string.It will differ from person to person and trade to trade.I am self employed and earn a different amount each year.The key factor is to work hard at getting the jobs in the first place.
2007-01-30 08:36:41 · answer #5 · answered by Niamh 7 · 1⤊ 0⤋
You own a beauty Salon according to a previous question. The salon that Jane- your girlfriend in America wants to come and work in.
Ask yourself how much you pay yourself then you will no for sure how much a self employed beauty salon owner earns.
2007-01-30 09:37:28 · answer #6 · answered by angie 5 · 0⤊ 0⤋
It depends on the person and the business. The fact is that some people make it and others don't. You could end up working for life with no holidays and less then 50p an hour. However if you get it right then you could be a millionaire!!
2007-01-30 09:03:28 · answer #7 · answered by wizz1888 1 · 0⤊ 0⤋
This depends on who is asking the question. If a potential customer "Barely enough to cover costs", if the Taxman "Very little" and if trying to impress the new barmaid "Absolute loads"
2007-01-30 08:34:50 · answer #8 · answered by freddiem 5 · 1⤊ 0⤋
Depends on what business you have. Generally they make a reasonable turnover although the biggest issue is limited liability.
2007-01-30 08:29:07 · answer #9 · answered by dlg3579 3 · 0⤊ 0⤋
Depends on how motivated the person is and what business they are in....really open ended question.
2007-01-30 08:30:28 · answer #10 · answered by sxy_tang 2 · 0⤊ 0⤋