I run my own business - AMA.

[Colabottle10]

My husband and I set up our own business ten years ago from the kitchen table. We now have premises and staff, we've done everything from scratch. AMA!

What business do you have and how did you start? I’m always in awe of those that start from nothing and wonder how the heck they do it

Can you tell us what the business is? (Roughly even)

I'll try and keep it vague as don't want to get in trouble for advertising.

It's a manufacturing business in a niche traditional craft.

DH has trained in this field when younger then revisited it when was made redundant. I was working as a professional in my own career and dropped my hours when the business started to take off.

We started with literally £1000 on a credit card.

Was the accounting an issue for you or did you already have skills in this area? I'd love to set up my own business but the bookkeeping/tax etc is a fear of mine.

I always admire people who do this. It’s so brave to start a business, and then possibilities are enormous, from it not working to becoming millionaires, although most I guess are all in between those scenarios.

Will there be enough business to keep you going to retirement if it’s a niche product?

No skills whatsoever in accounting! DH has a degree in a related subject.

Was easy enough pre VAT registration, just keeping incoming and outgoing receipts and invoices and using a computer package.

Much more complicated now as hundreds of invoices and stuff to manage plus vat returns. We have an accountant but I do all the day to day book keeping. I hate it but it saves us a lot of money. In the future someone else will do this I think.

Do you make loads of money?!

It was scary when I gave up my career and we were both working FT for the business, no doubt about that.

We are starting to make a name for ourselves in our business so fingers crossed it continues to grow. We started in the recession in 2008 and have made a profit (even if very small) every year.

This last year has been difficult. Staff are a big expense and there have been months when we've paid them and not ourselves and had to tighten our belts significantly (we aren't rich btw, still rent as can't get a mortgage).