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I'm panicking...if I do this will they sack me?

(17 Posts)
Katymac Sat 08-Sep-07 21:50:24

I know it's silly & I shouldn't worry this soon but....

If I set up the nursery as a co-op I will be lending the co-op my money and will get paid back plus be paid as a nursery manager

What happens if all the staff hate me & vote me out of the managers position, what would happen to all my money??

Daft aren't I to worry about this?blush

PondusLector Sat 08-Sep-07 21:58:49

if this could happen I personally would not set it up this way, it is YOUR business, no?

Katymac Sat 08-Sep-07 22:02:02

Yep - but it might not be a business unless I look at this option

The bank will only leand me over 10 yrs with my house on the line

The co-op people will leand over 20 yrs without collaterol

I like the idea of it being a co-op I guess I am just insecure because I know I'm not always easy to like & also as the boss I could be easy to dislike (iyswim)

PondusLector Sat 08-Sep-07 22:06:54

Are you sure that even as a co-op your staff would have a total veto over you? I know exactly what you mean that an effective boss is not always the favourite person. I would check that.

You sound like a very nice person though, just by the fact that you want it to be a collective in the first place.

Glad to see that the scheme is back on!

Katymac Sat 08-Sep-07 22:08:42

Well being 'back on' is very borderline atm

Planning is on 18th Sept

Finance/structure is very dodgy atm

PondusLector Sat 08-Sep-07 22:11:08

Hope it goes well.

You are very tenacious.

PrettyCandles Sat 08-Sep-07 22:11:27

I don't know anything about co-ops, but surely as a business venture there would be a contract specifying under what conditions your money would be lent, and how it would be expected to be paid back. Is the investment not independent of your employment position? After all, if an external investor was involved, they would expect to recoup the investment even though they were not employed.

SenoraPostrophe Sat 08-Sep-07 22:13:19

would it be terrible to employ your dh or someone else you trust absolutely, just so that you'd never be one against the staff?

as it goes I think it's highly unlikely that they'll all hate you anyway.

Katymac Sat 08-Sep-07 22:15:20

It's just if I'm in charge then it's my fault if we go bust & I lose my money

If they vote me off then go bust I would be really pissed off because I would have lost my job & all my money

SenoraPostrophe Sat 08-Sep-07 22:17:11

plus I think prettycandles is right. she's not just a pretty candle(s) you know.

Katymac Sat 08-Sep-07 22:22:03

I guess so

I just want to be in control (esp of my money) - I am very selfish you know

BoingBoing Sat 08-Sep-07 22:27:54

Katy, it's just an idea, but you might want to investigate start-up grants and loans for small businesses and/or women starting up their own businesses, or have you already done this? If you haven't, try your local Business Link and the DTI website - it's hideous to get around, but does contain useful information somewhere. Some is dependent on where you live, for example, if you're in a 'deprived' area that is eligible for the European Social Fund, like Wales or parts of the West Country, there could be something. Sorry, I don't know about Norfolk (I just checked your profile).

Secondly, and I have no idea about co-ops, so please correct me, but is there not a safeguard in place so that if you get voted off, at least some of your invested money is protected? Or am I being naive?

Good luck with it though, it sounds like you've thought this through, and are not the kind of person people will hate.

Katymac Sat 08-Sep-07 22:31:53

Boingboing - thanks I have spent a lot of time with business link discussing the available grants (none) & low interest loans (none)it's the 'wrong type' of businesshmm

It is business link (& foundation east & NWES) who have come up with the co-op idea

It's more that if I lose it it's my fault & if someone else loses it I'll blame them

BoingBoing Sun 09-Sep-07 13:16:51

Business Link have a good idea all by themselves?! And were helpful too? Well, there's a turn up. wink I know what you mean about the 'wrong' sector, but if I have any other bright ideas, I'll let you know. But it sounds like you've pretty much exhausted everything. Again, I assume you've tried looking on Grantnet, which I think can be found via the Business Link website?
In terms of safeguarding your business, all I can do is agree with Senorapostrophe and suggest you ram the board with 'friendlies' so you always have at least 50.1% of any vote.

Katymac Sun 09-Sep-07 13:36:47

I guess - it all seems a bit hit & miss

I think I have a lot more research to do with the idea

However I do like the idea that the staff have a direct input into the nursery - I think ownership leads to respect and self esteem for the staff and they will consider how they treat the property/equipment if they know that if it needs replacing it will come out of their profit

BoingBoing Sun 09-Sep-07 13:50:17

It sounds like a great plan, with recruiting the right calibre of staff being the main thing to be careful of. But if you prepare the business plan well, and really have a good handle on what you're trying to achieve and how you're going to get there, you can at least create as many safeguards as you can. Nothing is ever 100% guaranteed, but you can be as well prepared as possible, and it sounds like that's exactly what you're doing.

Katymac Sun 09-Sep-07 15:44:19

Recruiting staff - that a whole other issue

I hate it - I hate advertising, interviewing, making the decision - the whole thig is awful

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